Phillips 66
Exchange: NYSESector: EnergyIndustry: Oil & Gas Refining & Marketing
66 Phillips 66 is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company's portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future.
Did you know?
Trading 10% below its estimated fair value of $176.49.
Current Price
$161.07
-4.13%GoodMoat Value
$176.49
9.6% undervaluedProfile
Valuation (TTM)
Market Cap$64.90B
P/E14.74
EV$89.82B
P/B2.23
Shares Out402.92M
P/Sales0.48
Revenue$136.56B
EV/EBITDA8.71
Phillips 66 (PSX) Stock Analysis
GoodMoat Analysis
Phillips 66 is a major downstream energy company with a potentially narrow moat based on scale and integration, but it fails the initial quality gate for a value investor. The stock trades near its estimated fair value, offering no compelling margin of safety.
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Phillips 66 (PSX) operates in the downstream segment of the energy sector, refining, marketing, and transporting oil and gas products. Applying the GoodMoat framework, its primary competitive advantages likely stem from scale and vertical integration (Section 1, criteria 4 & 8), such as its extensive refining and logistics network. However, the business model faces high disruption risk (criterion 14) from the energy transition and exhibits cyclicality. Its financial quality indicators are mixed: while its ROE of 15.1% is near the 15-20% threshold, its profit margin of 3.2% and revenue growth of 1.3% YoY are low, and its FCF yield of 3.7% is modest. This profile likely results in a Moat Score below 5 and insufficient 'Strong' quality ratings, causing it to fail Step 1 of the Decision Framework. Valuation shows a P/E of 16.6x and a stock price of $181.29, very close to the GoodMoat Target of $176.49, indicating no meaningful margin of safety. For a value investor seeking durable moats and a margin of safety, Phillips 66 appears unfavourable for further investigation based on this framework.
Market Cap$64.90B
Current Price$161.07
P/E Ratio14.74
Forward P/E—
PEG Ratio0.00
EPS$10.79
Book Value$72.21
P/B Ratio2.23
PSX Financial Charts
FCF vs CAPEX
FCFCAPEX
Forward estimates use 19.5% FCF growth (CAGR)
Cash vs Debt
Net Debt: 18.6B
Revenue
109.6B
FY19
65.5B
FY20
114.9B
FY21
175.7B
FY22
149.9B
FY23
145.5B
FY24
136.6B
FY25
Net Income
3.1B
FY19
—
FY20
1.3B
FY21
11.0B
FY22
7.0B
FY23
2.1B
FY24
4.4B
FY25
PSX 52-Week Range
$92.77
$188.28
50-Day MA: $163.98200-Day MA: $138.30
Did you know?
Earnings per share grew at a 19.5% CAGR.
Phillips 66 (PSX) Financial Summary
Phillips 66 (PSX) is a Energy company in the Oil & Gas Refining & Marketing industry, listed on NYSE. The stock currently trades at $161.07 with a market capitalization of $64.90B.
Key valuation metrics include a P/E ratio of 14.74, price-to-book ratio of 2.23, and EPS of $10.79. The company reports a profit margin of 3.2% and return on equity of 15.1%.
PSX Key Financial Metrics
| Metric | Value |
|---|---|
| Market Cap | $64.90B |
| P/E Ratio | 14.74 |
| EPS | $10.79 |
| P/B Ratio | 2.23 |
| P/S Ratio | 0.48 |
| EV/EBITDA | 8.71 |
| Dividend Yield | 2.96% |
| Profit Margin | 3.2% |
| Return on Equity | 15.1% |
| Debt/Equity | 0.68 |
PSX Revenue & Earnings History
| Year | Revenue | Net Income |
|---|---|---|
| FY19 | $109.56B | $3.08B |
| FY20 | $65.49B | $-3.98B |
| FY21 | $114.85B | $1.32B |
| FY22 | $175.70B | $11.02B |
| FY23 | $149.89B | $7.01B |
| FY24 | $145.50B | $2.12B |
| FY25 | $136.56B | $4.40B |
Phillips 66 (PSX) Valuation
Based on GoodMoat's DCF model, Phillips 66 has a fair value estimate of $176.49. At the current price of $161.07, the stock appears 8.7% undervalued relative to our intrinsic value estimate.
PSX Quality Indicators
Phillips 66 maintains a profit margin of 3.2% and an operating margin of 4.8%. Return on equity stands at 15.1%. The current ratio is 1.30. Debt-to-equity ratio is 0.68.
About Phillips 66
66 Phillips 66 is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company's portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future.
PSX Free Cash Flow
Phillips 66 generated $2.73B in trailing twelve-month free cash flow, representing an FCF yield of 4.21%. This moderate FCF yield indicates reasonable cash generation.
PSX Shares Outstanding
Phillips 66 has 0.40 billion shares outstanding at a share price of $161.07, giving it a market capitalization of $64.90B.
PSX Recent Insider Trades
Recent insider transactions at Phillips 66 include:
| Insider | Type | Shares | Value |
|---|---|---|---|
| Mitchell Kevin J (Exec. VP and CFO) | SELL | 15,629 | $2.97M |
| Meyers Kevin Omar | BUY | 175 | $30310.00 |
| Davis Lisa Ann | SELL | 3,800 | $662617.40 |