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Phillips 66 PSX Refining — Sales and other operating revenues

Other segment segments

M&S
$21.42B
Midstream
$6.3B+24.6%
Renewable Fuels
$2.56B+58.7%
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:RevenueFromContractWithCustomerExcludingAssessedTax.

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
Revenues and Other Income
Third-party sales and other operating revenues$5,23113,61831,297849951,004
Intercompany revenues1,06922,3147891,7141(25,887)
Total sales and other operating revenues6,30035,93232,0862,56310(25,887)51,004
Equity in earnings (loss) of affiliates99403(1)135(1)635
Net gain on dispositions1107117
Other income(6)81(13)13690288
Total Revenues and Other Income6,39340336,01232,3182,698107(25,887)52,044

Item 1. FINANCIAL STATEMENTS

FAQ

What is Phillips 66's refining — sales and other operating revenues?
Phillips 66 (PSX) reported refining — sales and other operating revenues of $35.93B in Q2 2026.
How has Phillips 66's refining — sales and other operating revenues changed year-over-year?
Phillips 66's refining — sales and other operating revenues increased by 92.2% year-over-year, from $18.69B to $35.93B.
What is the long-term trend for Phillips 66's refining — sales and other operating revenues?
Over 4 years (2021 to 2025), Phillips 66's refining — sales and other operating revenues has grown at a -0.1% compound annual growth rate (CAGR), from $75.1B to $74.9B.
What does refining — sales and other operating revenues mean?
Total revenue generated by the refining segment from the sale of refined petroleum products and related services. This is the primary top-line metric for the refining business, capturing the impact of throughput volumes and market crack spreads. It excludes non-operating income and equity earnings.

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