Phillips 66 (PSX) Financial Statements

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Phillips 66 financial statements at a glance

Phillips 66 reported revenue of $132.38 billion for fiscal year 2025 (ended December 31, 2025), down 7.5% from fiscal year 2024. Net income was $4.39 billion, a net margin of 3.3%.

At the end of fiscal year 2025 it had total assets of $73.68 billion, total liabilities of $43.44 billion and shareholders' equity of $29.09 billion, with cash and short-term investments of $1.12 billion and total debt of $19.72 billion.

Its operations brought in $4.96 billion of cash; capital spending was $2.23 billion, leaving free cash flow of $2.73 billion.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

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Phillips 66

PSXUnited States
Energy
USD (Local)

Income Statement

Annual • USD

Total Revenue
132.38B
Prev Year: 143.15B
YoY: -7.5%
Operating Revenue
132.38B
Prev Year: 143.15B
YoY: -7.5%
Tax Effect of Unusual Items
328.66M
Prev Year: -18.33M
YoY: +1893.4%
Average Dilution Earnings
7.00M
Cost of Revenue
119.34B
Prev Year: 132.32B
YoY: -9.8%
Gross Profit
13.03B
Prev Year: 10.83B
YoY: +20.4%
Operating Expense
9.65B
Prev Year: 9.08B
YoY: +6.3%
Selling General and Administrative
2.44B
Prev Year: 2.81B
YoY: -13.4%
Other Taxes
791.00M
Prev Year: 329.00M
YoY: +140.4%
Depreciation Amortization Depletion
-
Other Operating Expenses
6.42B
Prev Year: 5.94B
YoY: +8.1%
Operating Income
3.38B
Prev Year: 1.75B
YoY: +93.6%
Net Non Operating Interest Income Expense
-945.00M
Prev Year: -789.00M
YoY: -19.8%
Non-operating Interest Income
141.00M
Prev Year: 158.00M
YoY: -10.8%
Non-operating Interest Expense
1.09B
Prev Year: 947.00M
YoY: +14.7%
Other Income Expense
2.98B
Prev Year: 1.72B
YoY: +73.7%
Gain on Sale of Securities
73.00M
Prev Year: 37.00M
YoY: +97.3%
Equity in Earnings of Affiliates
762.00M
Prev Year: 1.78B
YoY: -57.2%
Special Income Charges
1.92B
Prev Year: -135.00M
YoY: +1525.2%
Write-offs
1.06B
Prev Year: 456.00M
YoY: +132.5%
Restructuring and Mergers Acquisition
-
Prev Year: 0
Gain on Sale of Property, Plant and Equipment
2.98B
Prev Year: 321.00M
YoY: +829.6%
Impairment of Capital Assets
-
Other Non-operating Income (expense)
225.00M
Prev Year: 37.00M
YoY: +508.1%
Pre-tax Income
5.42B
Prev Year: 2.67B
YoY: +102.6%
Provision for Income Taxes
892.00M
Prev Year: 500.00M
YoY: +78.4%
Net Income Common Stockholders
4.39B
Prev Year: 2.11B
YoY: +108.5%
Net Income
4.40B
Prev Year: 2.12B
YoY: +108.0%
Net Income Including Non-Controlling Interests
4.53B
Prev Year: 2.17B
YoY: +108.2%
Net Income from Continuing Operations
4.53B
Prev Year: 2.17B
YoY: +108.2%
Noncontrolling Interests
-125.00M
Prev Year: -58.00M
YoY: -115.5%
Otherunder Preferred Stock Dividend
9.00M
Prev Year: 10.00M
YoY: -10.0%
Diluted NI Available to Com Stockholders
4.40B
Prev Year: 2.11B
YoY: +108.9%
Total Expenses
129.00B
Prev Year: 141.41B
YoY: -8.8%
Basic EPS
-
Prev Year: 5.01
Interest Income
141.00M
Prev Year: 158.00M
YoY: -10.8%
Diluted EPS
-
Prev Year: 4.99
Interest Expense
1.09B
Prev Year: 947.00M
YoY: +14.7%
Weighted Average Shares (basic)
-
Prev Year: 420.17M
Net Interest Income
-945.00M
Prev Year: -789.00M
YoY: -19.8%
Weighted Average Shares (diluted)
-
Prev Year: 421.89M
Net Income from Continuing and Discontinued Operation
4.40B
Prev Year: 2.12B
YoY: +108.0%
Normalized Income
2.73B
Prev Year: 2.20B
YoY: +24.5%
EBIT
6.51B
Prev Year: 3.62B
YoY: +79.6%
EBITDA
9.76B
Prev Year: 5.99B
YoY: +63.0%
Reconciled Cost of Revenue
119.34B
Prev Year: 132.32B
YoY: -9.8%
Reconciled Depreciation
3.25B
Prev Year: 2.36B
YoY: +37.6%
Net Income from Continuing Operation Net Minority Interest
4.40B
Prev Year: 2.12B
YoY: +108.0%
Total Unusual Items Excluding Goodwill
2.00B
Prev Year: -98.00M
YoY: +2137.8%
Total Unusual Items
2.00B
Prev Year: -98.00M
YoY: +2137.8%
Normalized EBITDA
7.76B
Prev Year: 6.08B
YoY: +27.6%
Tax Rate for Calcs
0.165
Prev Year: 0
Values in USD

Phillips 66 key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$132.4B$143.2B$147.4B$170.0B$111.5B
Gross profit$13.0B$10.8B$17.3B$18.4B$7.8B
Operating income$3.4B$1.7B$8.0B$9.6B$468.0M
Net income$4.4B$2.1B$7.0B$11.0B$1.3B
Diluted EPS–$4.99$15.48$23.27$2.97
Total assets$73.7B$72.6B$75.5B$76.4B$55.6B
Total liabilities$43.4B$44.1B$43.9B$42.3B$34.0B
Shareholders' equity$29.1B$27.4B$30.6B$29.5B$19.2B
Cash and short-term investments$1.1B$1.7B$3.3B$6.1B$3.1B
Total debt$19.7B$20.1B$19.4B$17.2B$14.4B
Operating cash flow$5.0B$4.2B$7.0B$10.8B$6.0B
Capital spending$2.2B$1.9B$2.2B$1.9B$1.9B
Free cash flow$2.7B$2.3B$4.9B$8.9B$4.2B

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2015.

Questions and answers

What was Phillips 66's revenue in fiscal year 2025?

$132.38 billion, down 7.5% from $143.15 billion in fiscal year 2024.

How much profit does Phillips 66 make?

Phillips 66 reported net income of $4.39 billion for fiscal year 2025 (3.3% of revenue); operating income was $3.38 billion.

How much cash and debt does Phillips 66 have?

At the end of fiscal year 2025: cash and short-term investments of $1.12 billion and total debt of $19.72 billion.

What is Phillips 66's free cash flow?

$2.73 billion in fiscal year 2025 (operating cash flow of $4.96 billion minus capital spending of $2.23 billion).

Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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