Business Segments · Net properties, plants and equipment
Refining — Net properties, plants and equipment
Phillips 66 Refining — Net properties, plants and equipment decreased by 2.8% to $11.93B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 18.3%, from $10.09B to $11.93B. Over 4 years (FY 2021 to FY 2025), Refining — Net properties, plants and equipment shows a downward trend with a -3.5% CAGR.
Analysis
StatementSegment
CategoryCapital Allocation
SignalContext dependent
VolatilityModerate
First reportedQ4 2019
Last reportedQ1 2026
Rolls up toProperty, plant and equipment, net
How to read this metric
Growth in net PP&E typically reflects ongoing investment and modernization, whereas a decline may suggest divestment or aggressive depreciation outpacing new investment.
Detailed definition
The book value of the refining segment's physical assets, calculated as gross PP&E minus accumulated depreciation and am...
Peer comparison
Standard industry metric for 'Net Segment PP&E' used to calculate return on invested capital.
Metric ID:
psx_segment_refining_net_properties_plants_and_equipmentHistorical Data
20 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $12.72B | $11.35B | $11.36B | $11.31B | $11.18B | $11.10B | $11.68B | $11.74B | $11.89B | $12.06B | $12.32B | $12.40B | $10.38B | $10.57B | $10.28B | $10.09B | $9.89B | $9.60B | $12.27B | $11.93B |
| QoQ Change | — | -10.8% | +0.1% | -0.5% | -1.1% | -0.7% | +5.2% | +0.5% | +1.3% | +1.4% | +2.2% | +0.6% | -16.3% | +1.9% | -2.7% | -1.9% | -2.0% | -3.0% | +27.8% | -2.8% |
| YoY Change | — | — | — | — | -12.1% | -2.2% | +2.8% | +3.8% | +6.4% | +8.6% | +5.5% | +5.6% | -12.7% | -12.3% | -16.5% | -18.6% | -4.7% | -9.2% | +19.3% | +18.3% |
Range$9.60B – $12.72B
CAGR-1.3%
Avg YoY Growth-1.1%
Median YoY Growth+0.3%
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Frequently Asked Questions
- What is Phillips 66's refining — net properties, plants and equipment?
- Phillips 66 (PSX) reported refining — net properties, plants and equipment of $11.93B in Q1 2026.
- How has Phillips 66's refining — net properties, plants and equipment changed year-over-year?
- Phillips 66's refining — net properties, plants and equipment increased by 18.3% year-over-year, from $10.09B to $11.93B.
- What is the long-term trend for Phillips 66's refining — net properties, plants and equipment?
- Over 4 years (2021 to 2025), Phillips 66's refining — net properties, plants and equipment has grown at a -3.5% compound annual growth rate (CAGR), from $48.17B to $41.85B.
- What does refining — net properties, plants and equipment mean?
- The current book value of refining assets after accounting for wear and tear.