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Phillips 66 PSX Refining — Investments In and Advances to Affiliates

Other segment segments

Midstream
$2.08B-6.6%
Renewable Fuels
$14M0.0%

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ETAll Other — Advances to and investments in unconsolidated affiliates
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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:InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures.

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 / Total Consolidated
As of June 30, 2026
Investments In and Advances to Affiliates$2,0828,390561,40214411,948
Total Assets31,1308,41721,22912,0253,0016,00881,810
As of December 31, 2025
Investments In and Advances to Affiliates$2,1177,899651,33015211,428
Total Assets30,1727,89919,43510,0593,1972,91873,680

Item 1. FINANCIAL STATEMENTS

FAQ

What is Phillips 66's refining — investments in and advances to affiliates?
Phillips 66 (PSX) reported refining — investments in and advances to affiliates of $56M in Q2 2026.
How has Phillips 66's refining — investments in and advances to affiliates changed year-over-year?
Phillips 66's refining — investments in and advances to affiliates decreased by 97.5% year-over-year, from $2.28B to $56M.
What does refining — investments in and advances to affiliates mean?
This metric represents the carrying value of equity interests and financial support provided to joint ventures or non-consolidated entities within the refining segment. It reflects the company's strategic partnerships and shared operational risks in refining or related logistics. Changes in this balance indicate shifts in the company's collaborative strategy or the financial health of its affiliate network.

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