How has Phillips 66's M&S — investments in and advances to affiliates changed year-over-year?

Phillips 66's M&S — investments in and advances to affiliates increased by 132.1% year-over-year, from $557M to $1.29B.

What does M&S — investments in and advances to affiliates mean?

This represents the carrying value of the segment's equity interests in joint ventures or other non-consolidated entities. It reflects the segment's strategic partnerships and external business interests.

Phillips 66 PSX M&S — Investments In and Advances to Affiliates

Other segment segments

Midstream

$2.1B-7.3%

Refining

$70M-96.9%

Renewable Fuels

$15M0.0%

Chemicals

$0.50.0%

Similar metrics at other companies

CMITotal — Investments and advances related to equity method investees (Note 3)

$2.13B+13.0%

DOWCorporate Segment — Investment in nonconsolidated affiliates

$42M0.0%

AKRInvestments In And Advances To Unconsolidated Affiliates And Other

$66.25M+1,817%

ETAll Other Segments — Advances to and investments in unconsolidated affiliates

$61M+5.2%

KEXAll Other Segments — Investments In Affiliates Subsidiaries Associates And Joint Ventures

$3.63M+13.4%

CMIComponents — Investments and advances related to equity method investees (Note 3)

$494M-2.0%

Other financials

Income statement

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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$68.86B+35.5%

P/E16.7×-10.7×

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:InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures.

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 M&S — investments in and advances to affiliates?: Phillips 66 (PSX) reported M&S — investments in and advances to affiliates of $1.29B in Q1 2026.
How has Phillips 66's M&S — investments in and advances to affiliates changed year-over-year?: Phillips 66's M&S — investments in and advances to affiliates increased by 132.1% year-over-year, from $557M to $1.29B.
What does M&S — investments in and advances to affiliates mean?: This represents the carrying value of the segment's equity interests in joint ventures or other non-consolidated entities. It reflects the segment's strategic partnerships and external business interests.