Business Segments · Cost And Expenses
M&S — Cost And Expenses
Phillips 66 M&S — Cost And Expenses decreased by 6.5% to $20.46B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 5.4%, from $19.42B to $20.46B. Over 3 years (FY 2022 to FY 2025), M&S — Cost And Expenses shows a downward trend with a -9.3% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
StatementSegment
CategoryEfficiency
SignalLower is better
VolatilityModerate
First reportedQ1 2022
Last reportedQ1 2026
How to read this metric
A decrease relative to revenue indicates improved operational efficiency, while an increase may signal rising input costs or operational inefficiencies.
Detailed definition
This represents the total operating costs incurred by the Marketing & Specialties segment, including raw materials, labo...
Peer comparison
Standard 'Operating expenses' or 'Cost of sales' reported by peers in downstream segments.
Metric ID:
psx_segment_m_s_cost_and_expensesHistorical Data
17 periods
| 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 | $28.29B | $28.29B | $28.29B | $28.29B | $24.34B | $24.34B | $24.34B | $24.34B | $22.31B | $25.19B | $23.05B | $21.28B | $19.42B | $20.81B | $22.38B | $21.87B | $20.46B |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | -13.9% | +0.0% | +0.0% | +0.0% | -8.4% | +12.9% | -8.5% | -7.7% | -8.7% | +7.2% | +7.6% | -2.3% | -6.5% |
| YoY Change | — | — | — | — | -13.9% | -13.9% | -13.9% | -13.9% | -8.4% | +3.5% | -5.3% | -12.6% | -13.0% | -17.4% | -2.9% | +2.8% | +5.4% |
Range$19.42B – $28.29B
CAGR-7.8%
Avg YoY Growth-8.0%
Median YoY Growth-12.6%
Current Streak2 quarters decline
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Frequently Asked Questions
- What is Phillips 66's m&s — cost and expenses?
- Phillips 66 (PSX) reported m&s — cost and expenses of $20.46B in Q1 2026.
- How has Phillips 66's m&s — cost and expenses changed year-over-year?
- Phillips 66's m&s — cost and expenses increased by 5.4% year-over-year, from $19.42B to $20.46B.
- What is the long-term trend for Phillips 66's m&s — cost and expenses?
- Over 3 years (2022 to 2025), Phillips 66's m&s — cost and expenses has grown at a -9.3% compound annual growth rate (CAGR), from $113.14B to $84.48B.
- What does m&s — cost and expenses mean?
- The total operating costs required to run the Marketing & Specialties business.