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Phillips 66 PSX M&S — D&A

Other segment segments

Midstream
$284M+9.2%
Refining
$221M-50.1%
Renewable Fuels
$24M+4.3%
Chemicals
$0

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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$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:DepreciationDepletionAndAmortization.

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
Purchased crude oil and products4,63931,45331,3542,074(25,856)43,664
Operating expenses*56811,144227927(31)1,810
Selling, general and administrative expenses*54(2)2533219110538
Depreciation and amortization284221262430585
Impairments189
Taxes other than income taxes60882(41)18127
Interest and debt expense314314
Other segment items**318(1)(1)726

Item 1. FINANCIAL STATEMENTS

FAQ

What is Phillips 66's M&S — D&A?
Phillips 66 (PSX) reported M&S — D&A of $26M in Q2 2026.
How has Phillips 66's M&S — D&A changed year-over-year?
Phillips 66's M&S — D&A decreased by 21.2% year-over-year, from $33M to $26M.
What is the long-term trend for Phillips 66's M&S — D&A?
Over 3 years (2022 to 2025), Phillips 66's M&S — D&A has grown at a -4.1% compound annual growth rate (CAGR), from $110M to $97M.
What does M&S — D&A mean?
This is the systematic allocation of the cost of tangible and intangible assets within the Marketing & Specialties segment over their useful lives. It reflects the non-cash expense associated with the wear and tear of refineries, pipelines, and marketing infrastructure. This metric is essential for calculating the segment's true economic profitability and capital intensity.

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