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Phillips 66(PSX)

F

Financial data as of Dec 31, 2025Improving · Energy

FCF Margin2.1%Free Cash Flow / Revenue
Cash Conversion112.7%Operating CF / Net Income
Free Cash Flow$2.7B
Revenue$132.4B
Net Cash-$18.6BNet debt position
Debt / FCF7.2xElevated debt burden
Current Ratio1.30Adequate short-term liquidity
YoY FCF Growth+199.1%4 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseF
→
-1High debt-to-FCF ratio (7.2x)
→
+1Strong YoY FCF growth (199.1% YoY)
→
-0.5Highly volatile FCF (consistency: 1.12)
→
FinalF

Analysis Summary

Strengths

  • Excellent cash conversion (113%)
  • Strong YoY FCF growth (+199.1%)

Concerns

  • Low FCF margin (2.1%)
  • Heavy debt position ($18.6B net debt, 7.2x FCF)
  • High debt-to-FCF ratio (7.2x)
  • Highly volatile quarterly FCF

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin2.1%
Net Margin3.3%
Operating CF Margin3.7%
CapEx Ratio1.7%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$18.6BNet debt position
Debt / FCF7.2xElevated debt burden
Current Ratio1.30Adequate liquidity
Debt / Equity0.68Low leverage

Quarterly FCF Trend

+199.1% YoYImproving (+199.1%)

Free cash flow per quarter

Sector Comparison — Energy

FCF Margin ranked against sector peers

View all →

Detailed Metrics

Company NamePhillips 66
SectorEnergy
Free Cash Flow$2.7B
Revenue$132.4B
Net Income$4.4B
Operating Cash Flow$5.0B
Capital Expenditure$2.2B
FCF Margin2.1%
Cash Conversion Rate112.7%
Net Margin3.3%
Total Debt$19.7B
Total Cash$1.1B
Net Cash-$18.6B
Current Ratio1.30
Debt / Equity0.68
Debt / FCF7.2x
YoY FCF Growth+199.1%
Positive Quarters4 of 5
Trend DirectionImproving
Report DateDec 31, 2025
GradeF
Data SourceYahoo Finance