Phillips 66
Financial Performance
Phillips 66 Revenue & Financials
Revenue
$132.4B (FY2025)
Market Cap
$109.4B
Net Income
$4.4B
Employees
12,600
What is Phillips 66's revenue?
Phillips 66 had $132.4B in revenue for fiscal year 2025, down 7.5% from 2024. Net income was $4.4B.
- Latest revenue
- $132.4B (FY2025)
- Year-over-year
- -7.5%
- Growth rate (CAGR)
- 5.1% over 9 years
- Peak revenue
- $170B (FY2022)
- Years of data
- 10
- Employees
- 12,600
- How much profit does Phillips 66 make?
- Phillips 66 reported net income of $4.4B for fiscal year 2025. sec.gov
- How many employees does Phillips 66 have?
- Phillips 66 has about 12,600 employees.
Financial Analysis
Phillips 66 revenue swings with commodity prices: sales were $169.99 billion in 2022, $147.40 billion in 2023, $143.15 billion in 2024 and $132.38 billion in 2025. Net income attributable to the company rose to $4.403 billion in 2025 from $2.117 billion in 2024. Results turned sharply in 2026: first-quarter earnings were $207 million, then second-quarter earnings reached $3.847 billion ($9.55 per diluted share) with adjusted EBITDA of $5.891 billion on stronger refining margins. Total debt fell by $6.6 billion in the second quarter to $20.6 billion. Phillips 66 is a monumental American multinational energy company specializing in refining, transporting, and marketing petroleum products, commanding a market valuation typically over $60 billion.
Revenue Trend Analysis
YoY Change
-7.5%
9-Year CAGR
+5.1%
Peak Year
2022
Trend
Volatile
Phillips 66 has 10 full fiscal year figures on this page, compounding at +5.1% annually over 9 years. The most recent year saw a 7.5% decline versus the prior year. Annual revenue peaked in fiscal year 2022 at $170B. Of 9 comparable year-over-year steps, 4 showed growth and 5 showed a decline.
Annual revenue history
Click any row to see year details.
Phillips 66 balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. In some years total assets exceed liabilities plus shareholders' equity because the company reported redeemable preferred stock or non-controlling interests outside both.
| Fiscal Year | Operating cash flow | Total assets | Total liabilities | Shareholders' equity | Source |
|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $5B | $73.7B | $43.4B | $29.1B | Form 10-K |
| FY2024ended Dec 31, 2024 | $4.2B | $72.6B | $44.1B | $27.4B | Form 10-K |
| FY2023ended Dec 31, 2023 | $7B | $75.5B | $43.9B | $30.6B | Form 10-K |
| FY2022ended Dec 31, 2022 | $10.8B | $76.4B | $42.3B | $29.5B | Form 10-K |
| FY2021ended Dec 31, 2021 | $6B | $55.6B | $34B | $19.2B | Form 10-K |
| FY2020ended Dec 31, 2020 | $2.1B | $54.7B | $33.2B | $19B | Form 10-K |
| FY2019ended Dec 31, 2019 | $4.8B | $58.7B | $31.6B | $24.9B | Form 10-K |
| FY2018ended Dec 31, 2018 | $7.6B | $54.3B | $27.1B | $24.7B | Form 10-K |
| FY2017ended Dec 31, 2017 | $3.6B | $54.4B | $26.9B | $25.1B | Form 10-K |
| FY2016ended Dec 31, 2016 | $3B | $51.7B | $27.9B | $22.4B | Form 10-K |
Keep researching Phillips 66
Phillips 66 Revenue and Financial FAQ
What is Phillips 66's annual revenue?
Phillips 66 reported revenue of $132.376 billion for FY2025, down from $143.153 billion in 2024 and $169.99 billion in 2022.
How profitable is Phillips 66?
Net income attributable to Phillips 66 was $4.403 billion in 2025, up from $2.117 billion in 2024 but below $11.024 billion in 2022.
What were Phillips 66's 2Q 2026 results?
Second-quarter 2026 earnings were $3.847 billion ($9.55 per diluted share); adjusted EBITDA was $5.891 billion and operating cash flow was $7.259 billion.
How much debt does Phillips 66 have?
Total debt was $20.6 billion and net debt $16.5 billion at the end of 2Q 2026, after a $6.6 billion reduction in the quarter. Management has said it aims to cut net debt below $16 billion by year-end 2026.
How much does Phillips 66 return to shareholders?
In 2Q 2026 Phillips 66 returned $887 million to shareholders: $508 million in dividends and $379 million in share repurchases.
What did the DCP Midstream buy-in cost?
In 2023 Phillips 66 acquired DCP Midstream's publicly held units for $41.75 per unit, about $3.8 billion.
What is Phillips 66's target capital return payout ratio to shareholders?
Phillips 66 targets returning 50% or more of operating cash flow to shareholders via dividends and share buybacks. Since its 2012 spinoff, the company has increased its dividend every year at a double-digit compound annual rate and repurchased over 30% of its initial common shares.
How did activist investor Elliott Management impact Phillips 66's financial targets?
In late 2023, Elliott Investment Management disclosed a $1 billion stake, pressing management to improve refining operating performance, cut SG&A expenses, divest non-core assets (targeting $3B+ in proceeds), and add two independent board members with deep refining operational expertise.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Phillips 66 Revenue & Financials." CorpDigest, https://corpdigest.com/company/phillips-66/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Phillips 66 reported $132.4B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/phillips-66/financials" target="_blank" rel="noopener">CorpDigest — Phillips 66 financials</a></div>Related Financial Audits
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