Income StatementBalance SheetCash FlowSegments
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Phillips 66 Business Segments

Business, geographic, and product segment breakdowns

Phillips 66 generates $134.49B in annual revenue across 4 key segments: Chemicals (-), Marketing And Specialties Segment ($4.0B), Midstream ($117.69B), and Refining ($94.6B). Based on the Q1 2026 filing.

Chemicals (TTM)-Marketing And Specialties Segment (TTM)$4.0BMidstream (TTM)$117.69BRefining (TTM)$94.6BRenewable Fuels (TTM)$15.0B
Latest FilingQ1 2026
Report Date2026-04-29
Market Cap$71.2B
P/E Ratio17.28
ROE14.78%

Products & Services

Sales and other operating revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Refined petroleum products and renewable fuels$24.2B$22.2B$24.2B$25.5B$25.4B$24.9B
Natural gas liquids and natural gas$4.2B$4.5B$4.1B$4.1B$4.4B$4.5B
Crude oil resales$4.7B$3.1B$4.2B$4.2B$3.7B$4.3B
Services and other$541.0M$573.0M$885.0M$676.0M$634.0M-$1.2B

Geographic

Long-Lived Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Germany$325.0M———$794.0M—
Other foreign countries$87.0M———$3.0M—
United Kingdom$1.3B———$1.3B—
United States$47.9B———$48.9B—

Sales and other operating revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
United States$26.8B$24.2B$26.0B$27.0B$27.1B$25.8B
United Kingdom$2.7B$3.0B$3.4B$3.4B$3.5B$3.8B
Other countries$2.9B$2.1B$2.6B$2.8B$2.4B$2.3B
Germany$1.2B$1.2B$1.3B$1.4B$1.1B$709.0M

Number of refineries

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
United States and Europe—————10.00

Business Segments

Accum. D&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Refining$12.0B$12.4B$12.9B$13.3B$13.7B$11.0B
Midstream$4.8B$5.0B$5.3B$5.5B$5.8B$6.0B
Renewable Fuels$1.7B$1.7B$1.7B$1.7B$1.8B$1.8B
Marketing And Specialties Segment$1.3B$1.3B$517.0M$529.0M$543.0M$556.0M
Chemicals$0.0$0.0$0.0$0.0$0.0$0.0

Capital Expenditures and Investments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Midstream$228.0M$216.0M$384.0M$347.0M$284.0M$343.0M
Refining$196.0M$176.0M$148.0M$145.0M$307.0M$210.0M
Renewable Fuels$18.0M$9.0M$9.0M$15.0M$23.0M$10.0M
M&S$32.0M$15.0M$34.0M$26.0M$43.0M$9.0M
Chemicals$0.0$0.0$0.0$0.0$0.0$0.0

Cost And Expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Refining$19.6B$16.7B$18.4B$19.9B$20.2B$22.4B
M&S$21.3B$19.4B$20.8B$22.4B$21.9B$20.5B
Midstream$4.6B$4.9B$4.4B$4.5B$5.0B$5.1B
Renewable Fuels$1.5B$1.7B$1.8B$1.7B$1.6B$1.7B
Chemicals-$3.0M$0.0$0.0$0.0$0.0$0.0

D&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Midstream$233.0M$233.0M$260.0M$278.0M$259.0M$274.0M
Refining$435.0M$456.0M$443.0M$444.0M$477.0M$215.0M
Renewable Fuels$23.0M$23.0M$23.0M$25.0M$24.0M$23.0M
M&S$78.0M$20.0M$33.0M$23.0M$21.0M$20.0M
Chemicals$0.0$0.0$0.0$0.0$0.0$0.0

Equity in earnings of affiliates

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Chemicals$104.0M$113.0M$20.0M$176.0M$0.0$114.0M
Midstream$132.0M$110.0M$98.0M$93.0M$98.0M$103.0M
M&S$57.0M$36.0M$38.0M$36.0M$36.0M$35.0M
Refining—-$105.0M-$2.0M$31.0M-$3.0M$0.0
Renewable Fuels—-$1.0M-$1.0M$1.0M$0.0$0.0

Gain (Loss), Foreign Currency Transaction, before Tax

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Chemicals$0.0$0.0$0.0$0.0$0.0—
Marketing and Specialties-$750.0K-$500.0K-$500.0K-$500.0K-$500.0K—
Midstream$0.0$0.0$0.0$0.0$0.0—
Refining$0.0$5.3M$5.3M$5.3M$5.3M—
Renewable Fuels-$500.0K-$1.5M-$1.5M-$1.5M-$1.5M—

Gross PP&E

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Midstream$26.2B$26.3B$28.9B$29.3B$29.6B$29.9B
Refining$22.3B$22.5B$22.8B$22.9B$26.0B$23.0B
Renewable Fuels$3.7B$3.7B$3.7B$3.7B$3.8B$3.8B
Marketing And Specialties Segment$2.1B$2.1B$989.0M$990.0M$1.0B$1.0B
Chemicals$0.0$0.0$0.0$0.0$0.0$0.0

Impairments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Midstream$34.0M$0.0$0.0$0.0$79.0M$4.0M
Refining$1.0M$1.0M$3.0M$951.0M$0.0$2.0M
Renewable Fuels$0.0$0.0$0.0$0.0$0.0$2.0M
Chemicals$0.0$0.0$0.0$0.0$0.0$0.0
M&S$2.0M$0.0$1.0M$0.0$0.0$0.0

Income (Loss), Including Portion Attributable to Noncontrolling Interest, before Tax

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Midstream$673.0M$751.0M$731.0M$697.0M$638.0M$591.0M
Refining-$775.0M-$937.0M$359.0M-$518.0M—$208.0M
M&S$252.0M$1.3B$571.0M$251.0M$2.4B-$161.0M
Chemicals$107.0M$113.0M$20.0M$176.0M$0.0$114.0M
Renewable Fuels—-$185.0M-$133.0M-$43.0M-$19.0M-$41.0M

Interest and Debt Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Chemicals$0.0$0.0$0.0$0.0$0.0$0.0
M&S$0.0$0.0$0.0$0.0$0.0$0.0
Midstream$0.0$0.0$0.0$0.0$0.0$0.0
Refining$0.0$0.0$0.0$0.0$0.0$0.0
Renewable Fuels$0.0$0.0$0.0$0.0$0.0$0.0

Interest Income, Other

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Chemicals$0.0$0.0$0.0$0.0$0.0$0.0
M&S$0.0$0.0$0.0$0.0$0.0$0.0
Midstream$0.0$0.0$0.0$0.0$0.0$0.0
Refining$0.0$0.0$0.0$0.0$0.0$0.0
Renewable Fuels$0.0$0.0$0.0$0.0$0.0$0.0

Investments In and Advances to Affiliates

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Chemicals$7.8B$7.9B$7.9B$7.9B$7.9B$8.0B
Midstream$3.1B$2.3B$2.2B$2.2B$2.1B$2.1B
M&S$719.0M$557.0M$553.0M$573.0M$1.3B$1.3B
Refining$2.4B$2.3B$2.3B$1.4B$65.0M$70.0M
Renewable Fuels$16.0M$15.0M$14.0M$15.0M$15.0M$15.0M

Net gain on dispositions

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Midstream$15.0M$69.0M-$4.0M-$8.0M$1.0M$6.0M
Chemicals$0.0$0.0$0.0$0.0$0.0$0.0
M&S$67.0M$1.0B-$89.0M$16.0M$2.0B$0.0
Refining$0.0$0.0$0.0$3.0M$0.0$0.0
Renewable Fuels$0.0$0.0$0.0$0.0$0.0$0.0

Net properties, plants and equipment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Midstream$21.4B$21.3B$23.7B$23.7B$23.8B$23.9B
Refining$10.3B$10.1B$9.9B$9.6B$12.3B$11.9B
Renewable Fuels$2.0B$2.0B$2.0B$2.0B$2.0B$2.0B
Marketing And Specialties Segment$824.0M$831.0M$472.0M$461.0M$471.0M$473.0M
Chemicals$0.0$0.0$0.0$0.0$0.0$0.0

Other Cost and Expense, Operating

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Refining$969.0M$1.1B$848.0M$909.0M$1.2B$1.2B
Midstream$525.0M$458.0M$512.0M$501.0M$550.0M$541.0M
Renewable Fuels$99.0M$96.0M$90.0M$84.0M$95.0M$89.0M
M&S$19.0M$18.0M$17.0M$19.0M$19.0M$19.0M
Chemicals-$1.0M$2.0M$1.0M$2.0M$2.0M$2.0M

Other income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Renewable Fuels—$19.0M$44.0M$53.0M$88.0M$74.0M
M&S$2.0M$6.0M$15.0M-$6.0M$1.0M$62.0M
Refining—$3.0M$34.0M$1.0M$2.0M$26.0M
Midstream$3.0M$10.0M$3.0M$20.0M—$19.0M
Chemicals$0.0$0.0$0.0$0.0$0.0$0.0

Other segment items

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Refining$12.0M-$2.0M-$13.0M$11.0M$13.0M$15.0M
M&S—-$1.0M-$1.0M$6.0M$2.0M$2.0M
Midstream$5.0M$2.0M$1.0M$2.0M$2.0M$2.0M
Renewable Fuels—$4.0M$8.0M-$4.0M—-$2.0M
Chemicals$0.0$0.0$0.0$0.0$0.0$0.0

Percentage of ownership interest

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Chemicals50.0%50.0%50.0%50.0%50.0%50.0%

Purchased crude oil and products

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Refining$18.0B$15.0B$17.0B$17.4B$18.3B$20.7B
M&S$20.8B$19.0B$20.4B$21.7B$21.5B$20.1B
Midstream$3.8B$4.1B$3.5B$3.6B$4.0B$4.1B
Renewable Fuels$1.5B$1.5B$1.6B$1.5B$1.4B$1.5B
Chemicals$0.0$0.0$0.0$0.0$0.0$0.0

Revenues And Other Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Refining$18.8B$15.8B$18.7B$19.4B$21.0B$22.6B
M&S$21.5B$20.7B$21.4B$22.6B$24.3B$20.3B
Midstream$5.3B$5.6B$5.2B$5.2B$5.7B$5.7B
Renewable Fuels$1.6B$1.5B$1.7B$1.7B$1.5B$1.6B
Chemicals$104.0M$113.0M$20.0M$176.0M$0.0$114.0M

Sales and other operating revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Refining$19.0B$15.9B$18.7B$19.3B$21.0B$22.5B
M&S$21.4B$19.6B$21.4B$22.6B$22.3B$20.2B
Midstream$5.2B$5.5B$5.1B$5.1B$5.6B$5.5B
Renewable Fuels$1.6B$1.5B$1.6B$1.6B$1.4B$1.5B
Chemicals$0.0$0.0$0.0$0.0$0.0$0.0

Selling, General and Administrative Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
M&S$331.0M$328.0M$334.0M$584.0M$346.0M$297.0M
Midstream$43.0M$53.0M$52.0M$58.0M$54.0M$56.0M
Refining$59.0M$46.0M$32.0M$40.0M$52.0M$52.0M
Renewable Fuels$11.0M$18.0M$14.0M$19.0M$15.0M$21.0M
Chemicals-$2.0M-$2.0M-$1.0M-$2.0M-$2.0M-$2.0M

Taxes other than income taxes

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Refining$92.0M$110.0M$94.0M$90.0M$63.0M$106.0M
Midstream$54.0M$61.0M$83.0M$66.0M$51.0M$75.0M
Renewable Fuels-$113.0M$35.0M$23.0M$52.0M$22.0M$31.0M
M&S$19.0M$9.0M$6.0M$8.0M-$24.0M$2.0M
Chemicals$0.0$0.0$0.0$0.0$0.0$0.0

Total Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Midstream$28.3B$27.4B$30.2B$30.3B$30.2B$30.3B
Refining$19.6B$19.7B$21.4B$19.7B$19.4B$22.6B
M&S$9.8B$10.4B$10.7B$11.6B$10.1B$12.6B
Chemicals$7.8B$7.9B$7.9B$7.9B$7.9B$8.0B
Renewable Fuels$3.1B$3.1B$3.0B$3.1B$3.2B$3.2B

Adjustments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Marketing and Specialties—-$250.0K-$250.0K-$250.0K-$250.0K—
Midstream—$0.0$0.0$0.0$0.0—

Goodwill Write-Off

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Marketing and Specialties—$35.3M$35.3M$35.3M$35.3M—
Midstream—$0.0$0.0$0.0$0.0—

Number Of Petroleum Refineries

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Refining————10.00—

Ownership percentage, divested

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Refining————100.0%—

Transfer of accumulated depreciation and amortization between segments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Refining—————$2.7B

Transfer of gross PP&E between segments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Refining—————$3.0B