What is Phillips 66's income tax?

Phillips 66 (PSX) reported income tax of $41M in Q1 2026.

How has Phillips 66's income tax changed year-over-year?

Phillips 66's income tax decreased by 66.4% year-over-year, from $122M to $41M.

What is the long-term trend for Phillips 66's income tax?

Over 4 years (2021 to 2025), Phillips 66's income tax has grown at a 57.2% compound annual growth rate (CAGR), from $146M to $892M.

What does income tax mean?

Total income tax expense (current + deferred) recognized in the income statement, representing the company's total tax obligation on pre-tax income.

Phillips 66 PSX Income Tax

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Other financials

Income statement

See full

Revenue$32.5B+6.9%

Gross profit$3.3B+20.0%

Net income$207.0M-57.5%

EPS (diluted)$0.51-56.8%

Balance sheet

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Cash & equivalents$5.2B+246%

Total debt$21.7B+0.7%

Total equity$28.5B+4.6%

Total assets$84.1B+17.0%

Cash flow

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Operating cash flow-$2.3B-1,311%

Valuation

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Market cap$67.78B+44.5%

P/E16.4×-10.9×

P/S0.5×+0.1×

Profitability

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Gross margin12.5%+3.4pp

Net margin3.1%+1.7pp

Returns & leverage

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Return on equity14.8%+8.3pp

Debt / equity0.7×0.0×

Current ratio1.1×-0.1×

Where this comes from

Reported directly by Phillips 66 in its filing.

Tagged under the XBRL concept us-gaap:IncomeTaxExpenseBenefit.

The official record: Phillips 66’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Phillips 66's income tax?: Phillips 66 (PSX) reported income tax of $41M in Q1 2026.
How has Phillips 66's income tax changed year-over-year?: Phillips 66's income tax decreased by 66.4% year-over-year, from $122M to $41M.
What is the long-term trend for Phillips 66's income tax?: Over 4 years (2021 to 2025), Phillips 66's income tax has grown at a 57.2% compound annual growth rate (CAGR), from $146M to $892M.
What does income tax mean?: Total income tax expense (current + deferred) recognized in the income statement, representing the company's total tax obligation on pre-tax income.