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Phillips 66 PSX Contract Liabilities

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Other financials

Income statement

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Revenue$51.0B+53.1%
Gross profit$7.3B+72.9%
Net income$3.8B+339%
EPS (diluted)$9.55+344%

Balance sheet

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Cash & equivalents$4.1B+290%
Total debt$20.6B—
Total equity$31.5B+14.6%
Total assets$81.8B+7.7%

Cash flow

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Operating cash flow$7.3B+759%

Valuation

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Market cap$86B+79.8%
Enterprise value$102.46B—
P/E12.1×-15.7×
P/S0.6×+0.2×

Profitability

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Gross margin13.1%+3.1pp
Net margin4.7%+3.4pp

Returns & leverage

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Return on equity24%+18.0pp
Debt / equity0.7×—
Current ratio1.3×+0.2×

Where this comes from

Reported directly by Phillips 66 in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiability.

The source filing: Phillips 66’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:43 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001534701-26-000032

Our contract liabilities primarily represent advances from our customers prior to product or service delivery. At June 30, 2026, and December 31, 2025, contract liabilities were $174 million and $198 million, respectively.

Item 1. FINANCIAL STATEMENTS

FAQ

What is Phillips 66's contract liabilities?
Phillips 66 (PSX) reported contract liabilities of $174M in Q2 2026.
What does contract liabilities mean?
Revenue collected or billed in advance of performance — deferred revenue under ASC 606 terminology, representing future revenue obligations.

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