Explain this page
Arphra AIPlain-English read on Phillips 66’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +3.02% | +7.51% | +7.66% | +3.40% | +4.91% | +5.46% | +5.30% | +5.20% | +5.21% |
| Operating margin | +1.09% | +5.92% | +5.61% | +1.62% | +2.66% | +3.31% | +3.20% | +3.31% | +3.35% |
| EBITDA margin | +3.53% | +9.94% | +8.40% | +4.18% | +7.38% | +6.80% | +6.72% | +6.74% | +6.72% |
| EBIT margin | +2.07% | +8.97% | +7.04% | +2.50% | +4.89% | +4.85% | +4.67% | +4.91% | +4.80% |
| Pre-tax margin | +1.55% | +8.61% | +6.43% | +1.87% | +4.10% | +4.25% | +4.25% | +4.25% | +4.24% |
| Net margin | +1.17% | +6.48% | +4.76% | +1.48% | +3.33% | +3.27% | +3.16% | +3.17% | +3.10% |
| Cost structure | |||||||||
| Cost of revenue / sales | +96.98% | +92.49% | +92.34% | +96.60% | +95.09% | +92.26% | +92.51% | +97.52% | +96.67% |
| R&D intensity | +0.04% | +0.02% | +0.02% | +0.01% | +0.00% | +0.01% | +0.01% | +0.01% | +0.01% |
| SG&A intensity | +1.52% | +1.25% | +1.55% | +1.53% | +1.64% | +1.61% | +1.55% | +1.54% | +1.59% |
| Effective tax rate | +8.39% | +22.19% | +23.55% | +18.69% | +16.46% | +18.57% | +18.82% | +19.39% | +18.76% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +6.08% | +32.32% | +22.13% | +7.44% | +14.56% | +15.38% | +14.83% | +14.42% | +14.45% |
| Return on assets (ROA) | +2.37% | +14.42% | +9.28% | +2.92% | +5.98% | +6.12% | +5.92% | +6.07% | +5.75% |
| Return on capital (ROC) | +3.37% | +19.64% | +16.21% | +4.79% | +6.63% | +9.23% | +8.84% | +9.05% | +9.32% |
| Return on invested capital (ROIC) | +3.62% | +21.49% | +13.73% | +4.36% | +8.29% | +9.11% | +8.71% | +8.68% | +8.63% |
| Asset turnover | +201.36% | +222.55% | +195.05% | +197.18% | +179.41% | +187.31% | +187.45% | +191.31% | +185.23% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +1.17% | +6.48% | +4.76% | +1.48% | +3.33% | +3.27% | +3.16% | +3.17% | +3.10% |
| Asset turnover (× revenue / assets) | +201.36% | +222.55% | +195.05% | +197.18% | +179.41% | +187.31% | +187.45% | +191.31% | +185.23% |
| Equity multiplier (× assets / equity) | +256.94% | +224.13% | +238.55% | +255.00% | +243.64% | +251.38% | +250.53% | +237.52% | +251.40% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 2.01 | 2.23 | 1.95 | 1.97 | 1.79 | 1.87 | 1.87 | 1.91 | 1.85 |
| Fixed-asset turnover | 4.99 | 4.84 | 4.12 | 4.06 | 3.38 | — | — | — | — |
| Inventory turnover | 31.99 | 48.03 | 36.26 | 34.61 | 24.66 | — | — | — | — |
| Receivables turnover | 14.99 | 15.49 | 12.55 | 12.97 | 13.53 | — | — | — | — |
| Payables turnover | 12.83 | 13.90 | 12.47 | 13.42 | 14.18 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 24.36 | 23.57 | 29.07 | 28.14 | 26.98 | — | — | — | — |
| Days inventory outstanding (DIO) | 11.41 | 7.60 | 10.07 | 10.55 | 14.80 | — | — | — | — |
| Days payables outstanding (DPO) | 28.45 | 26.27 | 29.26 | 27.20 | 25.75 | — | — | — | — |
| Cash conversion cycle | 7.32 | 4.90 | 9.88 | 11.48 | 16.03 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 4.58 | 0.98 | 1.00 | 1.98 | 1.13 | 1.15 | 1.18 | 1.18 | 1.26 |
| FCF / Net income | 3.16 | 0.78 | 0.66 | 1.10 | 0.62 | 0.71 | 0.71 | 0.72 | 0.75 |
| FCF margin | +3.71% | +5.07% | +3.13% | +1.63% | +2.06% | +2.33% | +2.24% | +2.28% | +2.33% |
| OCF margin | +5.38% | +6.36% | +4.77% | +2.93% | +3.75% | +3.76% | +3.71% | +3.76% | +3.92% |
| CapEx / Revenue | +1.66% | +1.29% | +1.64% | +1.30% | +1.69% | +1.52% | +1.58% | +1.51% | +1.57% |
| CapEx / D&A | 1.14 | 1.33 | 1.21 | 0.77 | 0.69 | — | — | — | — |
| Stock-based comp / Revenue | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 2.97 | 23.27 | 15.45 | 4.99 | 10.79 | 17.42 | 17.03 | 15.91 | 24.25 |
| EPS · basic | 2.97 | 23.36 | 15.56 | 5.01 | 10.84 | 17.67 | 17.34 | 15.83 | 24.47 |
| Book value / share | 49.13 | 71.99 | 69.84 | 67.47 | 74.11 | 82.99 | 77.54 | 78.89 | 91.21 |
| Tangible BV / share | 43.92 | 67.10 | 64.39 | 60.98 | 68.20 | 82.99 | 77.54 | 78.89 | 91.21 |
| Sales / share | 254.21 | 359.10 | 324.93 | 339.23 | 323.95 | 390.77 | 364.16 | 358.48 | 424.76 |
| Operating CF / share | 13.66 | 22.83 | 15.51 | 9.93 | 12.16 | 14.70 | 13.51 | 13.47 | 16.65 |
| Free cash flow / share | 9.44 | 18.19 | 10.17 | 5.53 | 6.69 | 9.12 | 8.18 | 8.18 | 9.89 |
| Dividends / share | 3.60 | 3.78 | 4.15 | 4.46 | 4.71 | 5.27 | 4.89 | 4.93 | 5.74 |
| Payout ratio | +120.53% | +16.26% | +26.87% | +88.90% | +43.65% | +41.33% | +42.51% | +43.35% | +43.52% |
| Retention ratio | -20.53% | +83.74% | +73.13% | +11.10% | +56.35% | +58.67% | +57.49% | +56.65% | +56.48% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +51.97% | -13.44% | -2.81% | -7.64% | +20.52% | -7.31% | -0.99% | +18.61% | +5.62% |
| Gross profit · YoY | — | +277.95% | -11.64% | -56.91% | +33.37% | +34.10% | -10.00% | -2.95% | +18.93% | +13.08% |
| Profit | ||||||||||
| Operating income · YoY | — | +722.29% | -17.92% | -71.88% | +51.40% | +49.71% | -10.21% | +2.19% | +20.18% | +21.48% |
| EBITDA · YoY | — | +328.10% | -26.84% | -51.62% | +63.02% | +11.02% | -8.33% | -0.73% | +18.16% | +14.47% |
| Net income · YoY | — | +738.33% | -36.47% | -69.77% | +107.98% | +18.18% | -10.39% | -0.50% | +16.00% | +19.26% |
| Operating | ||||||||||
| EBIT · YoY | — | +557.39% | -32.06% | -65.44% | +80.32% | +19.63% | -10.75% | +4.11% | +15.98% | +17.31% |
| R&D · YoY | — | -10.64% | -35.71% | -44.44% | -60.00% | +193.07% | -8.96% | +1.89% | +18.84% | -10.48% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +683.50% | -33.61% | -67.70% | +116.23% | +61.44% | -2.23% | -6.59% | +52.43% | +30.02% |
| EPS · basic · YoY | — | +686.53% | -33.39% | -67.80% | +116.37% | +63.03% | -1.87% | -8.73% | +54.62% | +30.16% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $14.74B | $17.19B | $19.36B | $20.06B | $22.88B | $23.28B | $22.09B | $21.28B | $25.12B |
| Net debt | $11.59B | $11.06B | $16.04B | $18.32B | $21.77B | $21.01B | $19.97B | $19.13B | $22.63B |
| Net debt / EBITDA | 2.93 | 0.65 | 1.30 | 3.06 | 2.23 | 1.94 | 2.01 | 1.94 | 1.94 |
| Debt / equity | 0.68 | 0.50 | 0.61 | 0.70 | 0.76 | 0.69 | 0.70 | 0.66 | 0.67 |
| Debt / assets | +26.51% | +22.49% | +25.64% | +27.64% | +31.06% | +27.37% | +28.05% | +27.84% | +26.84% |
| Equity / assets | +38.92% | +44.62% | +41.92% | +39.21% | +41.04% | +39.78% | +39.92% | +42.10% | +39.78% |
| Coverage | |||||||||
| EBITDA / interest expense | 6.80 | 27.32 | 13.79 | 6.60 | 9.39 | 10.02 | 9.98 | 9.84 | 10.13 |
| Operating income / interest | 2.11 | 16.27 | 9.22 | 2.56 | 3.39 | 4.88 | 4.75 | 4.83 | 5.05 |
| Interest expense | $581M | $619M | $897M | $907M | $1.04B | $1.08B | $995.14M | $1B | $1.15B |
| Liquidity | |||||||||
| Current ratio | 1.15 | 1.38 | 1.26 | 1.19 | 1.30 | — | — | — | — |
| Quick ratio | 0.83 | 1.08 | 0.95 | 0.85 | 0.82 | — | — | — | — |
| Cash ratio | 0.25 | 0.39 | 0.21 | 0.12 | 0.08 | — | — | — | — |
| Working capital | $1.9B | $6.03B | $4.09B | $2.82B | $3.95B | — | — | — | — |
| Working capital / revenue | +1.69% | +3.55% | +2.77% | +1.97% | +2.98% | — | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).