Phillips 66 (PSX): analysis in plain words
Is Phillips 66 cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Phillips 66 (PSX) is listed on the NYSE and we classify it in oil and gas. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Phillips 66 according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Phillips 66 (PSX) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $259.63 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 8.3x | Price over earnings per share |
| Revenue growth | +46.4% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 7.5% | Profit for every 100 of sales |
| Net debt / EBITDA | 0.8x | Years of operating profit to repay debt |
| Dividend yield | 1.96% | Annual dividend over price |
| Market cap | $101.3 billion | What the stock market values it at |
The Phillips 66 figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any PSX figure that is not available shows as N/A: we do not estimate it.
How Phillips 66 makes money
This U.S. refiner, owner of the Conoco gas station brand, reports Midstream, with pipelines and natural gas liquids processing, Chemicals through its stake in Chevron Phillips Chemical, Refining, which turns crude into gasoline and diesel, Marketing and Specialties, and Renewable Fuels. It operates in the United States and Europe.
Over the last 12 months, Phillips 66 brought in revenue of $168.2 billion. For every 100 it sells, Phillips 66 keeps 15.1 after the direct cost of what it sells (gross margin) and 13.2 after all operating costs (operating margin).
Phillips 66 against its sector
To know whether a Phillips 66 figure is high or low you have to put it next to similar companies. This table compares Phillips 66 with the median of the 14 oil and gas companies Fintols covers, with data as of November 4, 2026.
| Figure | Phillips 66 | oil and gas median |
|---|---|---|
| P/E | 8.3x | 16.1x (14) |
| Revenue growth | +46.4% | +38.3% (14) |
| Net margin | 7.5% | 10.5% (14) |
| Dividend yield | 1.96% | 2.52% (14) |
| Net debt / EBITDA | 0.8x | 0.6x (13) |
In short, against the typical oil and gas company, Phillips 66 trades on a lower P/E, grows faster and earns a thinner margin. By size, Phillips 66 ranks number 6 of 11 oil and gas companies quoted in USD on Fintols.
The bull case for Phillips 66
These are the strengths in the Phillips 66 figures as of November 4, 2026:
- Phillips 66 is selling more than a year ago: +46.4% in its latest quarter (the typical oil and gas company grew +38.3%).
- Phillips 66 earns 39.8% a year on its shareholders' money (return on equity).
- Phillips 66 generates real cash: $9.5 billion of free cash flow over 12 months, 9.4% of its stock market value.
The main risk for Phillips 66
The Phillips 66 figures as of November 4, 2026 show no clear red flag (no heavy debt, no losses, no falling sales). Its main risk is the one built into its business: oil and gas prices, which it does not control and which swing its profit year to year, plus the energy transition.
Frequently asked questions about Phillips 66
Is it a good time to buy Phillips 66 stock?
Fintols does not tell you whether to buy or sell Phillips 66, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Phillips 66 stock trades at $259.63, 13% below its 52-week high ($299.39) and 104% above its low ($127.16). Its P/E is 8.3x against a oil and gas median of 16.1x, and 8.3x on the earnings analysts expect over the next 12 months. With Phillips 66, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Phillips 66 pay a dividend?
Yes. As of November 4, 2026, Phillips 66 pays $5.32 per share a year, which at today's price is a yield of 1.96%. It uses 16% of its profit to pay it, which leaves room to keep paying it if profit dips. The oil and gas median on Fintols is 2.52%.
Is Phillips 66 stock expensive?
It depends on what you compare it with. On P/E, Phillips 66 trades at 8.3x its last 12 months of earnings: cheaper than the oil and gas median (16.1x). Including its debt, Phillips 66 is valued at 7.8x its EBITDA (EV/EBITDA). A high P/E alone does not make Phillips 66 expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Phillips 66's competitors?
On Fintols we compare Phillips 66 with EOG Resources, SLB and Marathon Petroleum, which are also in oil and gas. As of November 4, 2026, EOG Resources is worth $77.1 billion and trades on a P/E of 11.4; SLB is worth $76.1 billion and trades on a P/E of 25.0; Marathon Petroleum is worth $106.9 billion and trades on a P/E of 7.8. Each has a side-by-side comparison with Phillips 66 below.
Phillips 66 competitors
- EOG Resources (EOG) analysis · Phillips 66 vs EOG Resources comparison
- SLB (SLB) analysis · Phillips 66 vs SLB comparison
- Marathon Petroleum (MPC) analysis · Phillips 66 vs Marathon Petroleum comparison
To understand Phillips 66 better
- Dividend Growth Investing: FCF Payout Ratio and Compounding
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Phillips 66: oil and gas stocks and S&P 500 companies. Open the full PSX analysis with its valuation and scenarios. Educational content about Phillips 66, not investment advice.