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Phillips 66 PSX M&S — Cost And Expenses

Other segment segments

Refining
$32.95B+79.4%
Midstream
$5.61B+26.8%
Renewable Fuels
$2.15B+20.3%
Chemicals
-$1M

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-$2.47M-67.6%
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ECGE&M — Depreciation and amortization expense
$5.19M+278%

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 psx:CostAndExpenses.

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
Impairments189
Taxes other than income taxes60882(41)18127
Interest and debt expense314314
Other segment items**318(1)(1)726
Total Costs and Expenses5,608(1)32,95031,7352,154514(25,887)47,073
Income (loss) before income taxes$7854043,062583544(407)4,971
* These significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. The total of the line items "Operating expenses" and "Selling, general and administrative expenses" is considered "Controllable costs" and is provided to the CODM.
** “Other segment items” for each reportable segment includes the following line items on our consolidated statement of income: “Accretion on discounted liabilities” and “Foreign currency transaction (gains) losses.”

Item 1. FINANCIAL STATEMENTS

FAQ

What is Phillips 66's M&S — cost and expenses?
Phillips 66 (PSX) reported M&S — cost and expenses of $31.74B in Q2 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 52.5% year-over-year, from $20.81B to $31.74B.
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?
This represents the total operating costs incurred by the Marketing & Specialties segment, including raw materials, labor, maintenance, and overhead. It is a primary measure of the segment's operational efficiency and cost management.

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