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Phillips 66 PSX Chemicals — Equity in earnings of affiliates

Other segment segments

Midstream
$99M+1.0%
M&S
$38M
Refining
-$1M+50.0%
Renewable Fuels
-$1M0.0%

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COPEMENA — Equity in earnings of affiliates
$45M-60.9%
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PAGOther — Equity in earnings of affiliates
$0
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COPAlaska Segment — Equity in earnings of affiliates
$0
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COPLower 48 — Equity in earnings of affiliates
$0-100%
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COPTotal Segments — Equity in earnings of affiliates
$212M-30.3%

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$81.36B+70.1%
Enterprise value$97.83B
P/E11.5×-16.4×
P/S0.5×+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:IncomeLossFromEquityMethodInvestments.

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
Line itemMillions of Dollars / Operating Segments / MidstreamMillions of Dollars / Operating Segments / ChemicalsMillions of Dollars / Operating Segments / RefiningMillions of Dollars / Operating Segments / M&SMillions of Dollars / Operating Segments / Renewable FuelsMillions of Dollars / Corporate and OtherMillions of Dollars / Consolidating AdjustmentsMillions of Dollars / Total Consolidated
Third-party sales and other operating revenues$5,23113,61831,297849951,004
Intercompany revenues1,06922,3147891,7141(25,887)
Total sales and other operating revenues6,30035,93232,0862,56310(25,887)51,004
Equity in earnings (loss) of affiliates99403(1)135(1)635
Net gain on dispositions1107117
Other income(6)81(13)13690288
Total Revenues and Other Income6,39340336,01232,3182,698107(25,887)52,044
Costs and Expenses

Item 1. FINANCIAL STATEMENTS

FAQ

What is Phillips 66's chemicals — equity in earnings of affiliates?
Phillips 66 (PSX) reported chemicals — equity in earnings of affiliates of $403M in Q2 2026.
How has Phillips 66's chemicals — equity in earnings of affiliates changed year-over-year?
Phillips 66's chemicals — equity in earnings of affiliates increased by 1915.0% year-over-year, from $20M to $403M.
What is the long-term trend for Phillips 66's chemicals — equity in earnings of affiliates?
Over 4 years (2021 to 2025), Phillips 66's chemicals — equity in earnings of affiliates has grown at a -35.9% compound annual growth rate (CAGR), from $1.83B to $309M.
What does chemicals — equity in earnings of affiliates mean?
The company's proportional share of the net income generated by chemical-related joint ventures or non-consolidated affiliates. This reflects the profitability of chemical operations where the company holds a significant influence but not full control.

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