PSX
EnergyPhillips 66 · Oil & Gas Refining & Marketing · $71B
What is Phillips 66?
Phillips 66 is a large-cap energy manufacturing and logistics company headquartered in Houston, Texas. It spans refining, chemicals, midstream infrastructure, and fuel marketing across the United States and Europe.
Phillips 66 generates revenue across four business segments. Its Refining segment processes crude oil into gasoline, distillates, and aviation fuels at refineries in the US and Europe. The Midstream segment moves and stores crude oil, refined products, and natural gas liquids. The Chemicals segment — operated largely through a joint venture — produces ethylene, aromatics, and specialty chemicals. The Marketing and Specialties segment resells refined fuels and manufactures base oils and lubricants.
Phillips 66 was established as an independent company in 2012 and is headquartered in Houston, Texas.
- Petroleum refining — gasoline, distillates, and aviation fuels
- Midstream transportation, storage, and NGL fractionation
- Chemicals — ethylene, aromatics, and specialty products
- Fuel marketing and distribution across the US and Europe
- Base oils, lubricants, and specialty manufacturing
Is PSX a Good Stock to Buy?
UQS Score rates PSX as Below Average overall.
The most constructive elements of Phillips 66's profile sit in its Valuation and Growth pillars. Valuation is rated Attractive relative to peers, suggesting the market may not be pricing in a full recovery scenario. Growth is rated Neutral, reflecting a business that is neither contracting sharply nor expanding rapidly — typical for large integrated energy companies navigating commodity cycles.
Both the Quality and Moat pillars are rated Weak, pointing to below-average business durability and limited structural competitive advantages — a meaningful concern for long-term holders.
See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does PSX pay dividends?
Yes — Phillips 66 pays a dividend.
Phillips 66 pays a regular dividend, consistent with the income-oriented tradition of large integrated energy companies. The dividend reflects management's commitment to returning capital to shareholders even through commodity-price volatility. Investors focused on income should review the current yield and payout sustainability metrics available in the full UQS analysis.
When does PSX report earnings?
Phillips 66 reports earnings on a quarterly cadence, standard for US-listed large-cap equities.
Results for PSX tend to fluctuate with refining crack spreads, chemical margins, and NGL pricing — all of which move with broader energy market conditions. The Neutral Growth pillar rating suggests recent performance has been neither a strong positive nor a sharp negative relative to expectations.
For the most recent quarter's results and guidance, visit Phillips 66's investor relations page directly.
PSX Price History
+126.8% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Phillips 66?
Based on Phillips 66's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
PSX Long-term Outlook
The fundamental outlook for Phillips 66 is shaped by its Neutral Growth and Neutral Risk pillar ratings — a profile that points to moderate trajectory with manageable but real downside exposure. Refining margins remain cyclical, and the Chemicals segment faces its own commodity-driven swings. The Attractive Valuation rating suggests the current price may already reflect a degree of pessimism, which could limit further downside — but the Weak Quality and Moat ratings temper enthusiasm about a sustained re-rating.
Growth drivers
- Recovery in refining crack spreads as global fuel demand stabilizes
- NGL export growth through the Midstream segment's infrastructure
- Specialty chemicals demand supporting the Chemicals segment margin
Key risks
- Commodity price volatility compressing refining and chemical margins
- Weak Moat rating signals limited pricing power in competitive markets
- Capital-intensive operations elevating balance sheet sensitivity to downturns
PSX vs Peers
Phillips 66 competes in the downstream and integrated energy space alongside several large refining and marketing peers.
Marathon Petroleum is a pure-play refiner with one of the largest US refining networks, making it a direct benchmark for PSX's Refining segment performance.
Valero is among the world's largest independent refiners and competes closely with PSX on refining throughput, renewable fuels investment, and fuel marketing.
ARKO operates in fuel distribution and convenience retail, overlapping with PSX's Marketing and Specialties segment at the downstream consumer end.
Frequently Asked Questions
What does Phillips 66 do?
Phillips 66 is an energy manufacturing and logistics company operating across four segments: Refining, Midstream, Chemicals, and Marketing and Specialties. It refines crude oil into fuels, transports and stores energy products, produces petrochemicals, and markets refined fuels across the US and Europe.
Does PSX pay dividends?
Yes, Phillips 66 pays a regular dividend. Large integrated energy companies like PSX have historically prioritized shareholder returns through dividends even during periods of commodity-price weakness. Check the company's investor relations page for the current dividend rate and payment schedule.
When does PSX report earnings?
Phillips 66 reports on a quarterly cadence, as is standard for US-listed large-cap companies. Specific dates are published in advance on the company's investor relations page, which is the most reliable source for upcoming earnings schedules.
Is PSX a good stock to buy?
UQS Score rates PSX as Below Average overall. The Valuation pillar is Attractive, which may interest value-oriented investors, but the Weak Quality and Moat ratings highlight meaningful structural concerns. The full pillar breakdown is available to UQS Pro members.
Is PSX overvalued?
Based on the UQS Valuation pillar, PSX is rated Attractive — meaning the current market price appears favorable relative to the company's fundamentals when compared to sector peers. That said, valuation alone does not determine investment quality; the Weak Quality and Moat pillars are important context.
How does PSX compare to its competitors?
Phillips 66 is broader than pure-play refiners like Marathon Petroleum and Valero, given its Midstream and Chemicals segments. That diversification can smooth earnings volatility but also adds complexity. The UQS competitor comparison module lets Pro members view side-by-side pillar ratings across PSX, MPC, and VLO.
What is PSX's market cap bracket?
Phillips 66 is classified as a large-cap company, reflecting its scale across refining, chemicals, and midstream infrastructure in the US and Europe.
Who founded Phillips 66?
Phillips 66 was spun off from ConocoPhillips in 2012 as an independent downstream and midstream energy company. Its operational heritage traces back to 1875. Founding and historical context is widely available through the company's official history and public filings.
Is PSX a long-term quality indicator?
From a long-term quality perspective, PSX's Weak Quality and Moat pillar ratings are cautionary signals. These suggest the business lacks strong structural advantages that tend to compound value over time. The Neutral Risk rating indicates the near-term risk profile is not extreme, but long-term durability warrants scrutiny.
What is the main competitive advantage of Phillips 66?
Phillips 66's breadth across refining, midstream logistics, chemicals, and fuel marketing provides some diversification relative to pure-play refiners. However, the UQS Moat pillar is rated Weak, indicating that this diversification has not translated into a durable structural competitive advantage by the platform's scoring methodology.
What sector does PSX belong to?
Phillips 66 belongs to the Energy sector, specifically the downstream and integrated energy subsegment. It operates refineries, chemical plants, and midstream infrastructure — distinguishing it from upstream exploration and production companies.
Is PSX a growth stock or value stock?
Based on UQS pillar labels, PSX leans toward value rather than growth. The Valuation pillar is rated Attractive and Growth is Neutral — a combination more consistent with a value-oriented profile than a high-growth one. Full metrics are available to Pro members.
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Pro Analysis
PSX — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 46.6 | 30.6 | 36.0 | 54.4 | 43.9 | 83.0 | -0.7 |
| May 13, 2026 | 47.3 | 30.6 | 36.0 | 58.1 | 43.9 | 83.3 | -0.2 |
| May 7, 2026 | 47.5 | 35.8 | 36.0 | 57.3 | 42.7 | 78.2 | +0.1 |
| May 4, 2026 | 47.4 | 35.8 | 36.0 | 57.3 | 42.7 | 77.1 | 0.0 |
| May 3, 2026 | 47.4 | 35.8 | 36.0 | 57.4 | 42.7 | 76.9 | -0.4 |
| May 2, 2026 | 47.8 | 35.8 | 36.0 | 57.4 | 42.7 | 80.0 | 0.0 |
| May 1, 2026 | 47.8 | 35.8 | 36.0 | 58.1 | 42.7 | 79.0 | +0.1 |
| Apr 29, 2026 | 47.7 | 35.8 | 36.0 | 57.4 | 42.7 | 79.0 | +0.2 |
| Apr 26, 2026 | 47.5 | 35.8 | 36.0 | 56.7 | 42.7 | 78.8 | -0.2 |
| Apr 24, 2026 | 47.7 | 35.8 | 36.0 | 56.7 | 42.7 | 80.3 | 0.0 |
PSX — Pillar Breakdown
Quality
— 30.6/100 (25%)Phillips 66 currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 54.4/100 (20%)Phillips 66 shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 43.9/100 (15%)Phillips 66 has some risk factors including moderate leverage or solvency concerns.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 83.2/100 (15%)Phillips 66 appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 36/100 (25%)Phillips 66 possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for PSX.
Score Composition
Financial Data
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How is the PSX UQS Score Calculated?
The UQS (Unified Quality Score) for Phillips 66 is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Phillips 66's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Phillips 66 is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.