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Phillips 66

DB:R66
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
R66
DB
$26B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Phillips 66 operates as an energy manufacturing and logistics company. The last earnings update was 47 days ago. More info.


Add to Portfolio Compare Print
  • Phillips 66 has significant price volatility in the past 3 months.
R66 Share Price and Events
7 Day Returns
21.2%
DB:R66
8.7%
DE Oil and Gas
4.3%
DE Market
1 Year Returns
-36.6%
DB:R66
34.4%
DE Oil and Gas
-14.2%
DE Market
R66 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Phillips 66 (R66) 21.2% -0.3% -40.7% -36.6% -24% -24.2%
DE Oil and Gas 8.7% -2.8% -19.4% 34.4% -14.7% 157%
DE Market 4.3% -9% -21.6% -14.2% -19.6% -25.6%
1 Year Return vs Industry and Market
  • R66 underperformed the Oil and Gas industry which returned 34.4% over the past year.
  • R66 underperformed the Market in Germany which returned -14.2% over the past year.
Price Volatility
R66
Industry
5yr Volatility vs Market

R66 Value

 Is Phillips 66 undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Phillips 66 to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Phillips 66.

DB:R66 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.4%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:R66
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.97
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.972 (1 + (1- 21%) (50.74%))
1.242
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.24
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.242 * 5.44%)
6.37%

Discounted Cash Flow Calculation for DB:R66 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Phillips 66 is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:R66 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.37%)
2020 -474.08 Analyst x6 -445.69
2021 2,783.94 Analyst x8 2,460.57
2022 3,579.33 Analyst x3 2,974.16
2023 3,951.00 Analyst x1 3,086.43
2024 3,456.00 Analyst x1 2,538.11
2025 3,155.12 Est @ -8.71% 2,178.41
2026 2,959.14 Est @ -6.21% 1,920.78
2027 2,827.02 Est @ -4.46% 1,725.15
2028 2,735.36 Est @ -3.24% 1,569.28
2029 2,670.07 Est @ -2.39% 1,440.11
Present value of next 10 years cash flows $19,447.00
DB:R66 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $2,670.07 × (1 + -0.39%) ÷ (6.37% – -0.39%)
$39,353.29
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $39,353.29 ÷ (1 + 6.37%)10
$21,225.32
DB:R66 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $19,447.00 + $21,225.32
$40,672.32
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $40,672.32 / 437.84
$92.89
DB:R66 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:R66 represents 0.94986x of NYSE:PSX
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.94986x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 92.89 x 0.94986
€88.24
Value per share (EUR) From above. €88.24
Current discount Discount to share price of €55.69
= -1 x (€55.69 - €88.24) / €88.24
36.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Phillips 66 is available for.
Intrinsic value
37%
Share price is €55.69 vs Future cash flow value of €88.24
Current Discount Checks
For Phillips 66 to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Phillips 66's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Phillips 66's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Phillips 66's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Phillips 66's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:R66 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $6.80
NYSE:PSX Share Price ** NYSE (2020-04-07) in USD $58.63
Europe Oil and Gas Industry PE Ratio Median Figure of 104 Publicly-Listed Oil and Gas Companies 6.5x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 17.07x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Phillips 66.

DB:R66 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:PSX Share Price ÷ EPS (both in USD)

= 58.63 ÷ 6.80

8.62x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Phillips 66 is overvalued based on earnings compared to the Europe Oil and Gas industry average.
  • Phillips 66 is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Phillips 66's expected growth come at a high price?
Raw Data
DB:R66 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.62x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
14.7%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 66 Publicly-Listed Oil and Gas Companies 0.32x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

DB:R66 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.62x ÷ 14.7%

0.59x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Phillips 66 is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Phillips 66's assets?
Raw Data
DB:R66 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $56.48
NYSE:PSX Share Price * NYSE (2020-04-07) in USD $58.63
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 1.01x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.47x
DB:R66 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:PSX Share Price ÷ Book Value per Share (both in USD)

= 58.63 ÷ 56.48

1.04x

* Primary Listing of Phillips 66.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Phillips 66 is overvalued based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess Phillips 66's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Phillips 66 has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

R66 Future Performance

 How is Phillips 66 expected to perform in the next 1 to 3 years based on estimates from 13 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
14.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Phillips 66 expected to grow at an attractive rate?
  • Phillips 66's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Phillips 66's earnings growth is expected to exceed the Germany market average.
  • Phillips 66's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:R66 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:R66 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 14.7%
DB:R66 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 7.3%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13.8%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:R66 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:R66 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 144,749 5,852 3,656 1
2023-12-31 136,841 6,211 3,993 1
2022-12-31 112,305 6,420 3,905 2
2021-12-31 94,437 5,545 2,773 5
2020-12-31 78,928 2,541 889 5
2020-04-08
DB:R66 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 107,293 4,808 3,070
2019-09-30 107,266 7,253 4,573
2019-06-30 109,836 6,173 5,354
2019-03-31 110,969 6,607 5,270
2018-12-31 111,461 7,573 5,589
2018-09-30 108,719 5,365 6,547
2018-06-30 101,182 5,184 5,878
2018-03-31 93,037 4,685 5,088
2017-12-31 89,300 3,648 5,100
2017-09-30 83,177 2,384 2,066
2017-06-30 79,209 2,866 1,753
2017-03-31 76,725 2,156 1,699

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Phillips 66's earnings are expected to grow by 14.7% yearly, however this is not considered high growth (20% yearly).
  • Phillips 66's revenue is expected to grow by 7.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:R66 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from Phillips 66 Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:R66 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 8.64 9.65 7.62 2.00
2023-12-31 9.15 9.70 8.59 2.00
2022-12-31 8.81 9.60 8.02 2.00
2021-12-31 6.25 7.14 4.62 5.00
2020-12-31 2.01 3.61 0.25 5.00
2020-04-08
DB:R66 Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 6.80
2019-09-30 10.04
2019-06-30 11.65
2019-03-31 11.37
2018-12-31 11.87
2018-09-30 13.57
2018-06-30 11.90
2018-03-31 10.05
2017-12-31 9.90
2017-09-30 3.98
2017-06-30 3.36
2017-03-31 3.24

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Phillips 66 is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Phillips 66's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Phillips 66 has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

R66 Past Performance

  How has Phillips 66 performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Phillips 66's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Phillips 66's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Phillips 66's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Phillips 66's 1-year earnings growth is negative, it can't be compared to the Europe Oil and Gas industry average.
Earnings and Revenue History
Phillips 66's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Phillips 66 Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:R66 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 107,293.00 3,070.00 6,755.00
2019-09-30 107,266.00 4,573.00 6,572.00
2019-06-30 109,836.00 5,354.00 6,596.00
2019-03-31 110,969.00 5,270.00 6,598.00
2018-12-31 111,461.00 5,589.00 6,557.00
2018-09-30 108,719.00 6,547.00 6,448.00
2018-06-30 101,182.00 5,878.00 6,371.00
2018-03-31 93,037.00 5,088.00 6,372.00
2017-12-31 89,300.00 5,100.00 6,394.00
2017-09-30 83,177.00 2,066.00 6,416.00
2017-06-30 79,209.00 1,753.00 6,319.00
2017-03-31 76,725.00 1,699.00 6,158.00
2016-12-31 70,898.00 1,549.00 5,913.00
2016-09-30 69,143.00 2,036.00 5,803.00
2016-06-30 73,139.00 3,103.00 5,851.00
2016-03-31 79,837.00 3,620.00 5,885.00
2015-12-31 85,228.00 4,221.00 5,964.00
2015-09-30 98,055.00 4,717.00 6,069.00
2015-06-30 112,412.00 4,319.00 6,054.00
2015-03-31 129,169.00 4,169.00 6,094.00
2014-12-31 146,514.00 4,049.00 6,098.00
2014-09-30 154,640.00 3,711.00 6,124.00
2014-06-30 158,599.00 3,052.00 5,960.00
2014-03-31 156,580.00 3,134.00 5,871.00
2013-12-31 157,730.00 3,660.00 5,684.00
2013-09-30 158,819.00 3,512.00 5,506.00
2013-06-30 157,861.00 4,591.00 5,481.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Phillips 66 has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Phillips 66 used its assets more efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • Phillips 66 has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Phillips 66's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Phillips 66 has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

R66 Health

 How is Phillips 66's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Phillips 66's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Phillips 66 is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Phillips 66's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Phillips 66's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Phillips 66 Company Filings, last reported 3 months ago.

DB:R66 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 27,169.00 11,486.00 1,614.00
2019-09-30 27,092.00 11,759.00 2,268.00
2019-06-30 27,306.00 11,265.00 1,819.00
2019-03-31 26,745.00 11,118.00 1,253.00
2018-12-31 27,153.00 10,976.00 3,019.00
2018-09-30 25,795.00 11,337.00 924.00
2018-06-30 24,960.00 11,364.00 1,884.00
2018-03-31 24,300.00 11,621.00 842.00
2017-12-31 27,428.00 10,110.00 3,119.00
2017-09-30 23,959.00 10,201.00 1,547.00
2017-06-30 23,806.00 9,965.00 2,161.00
2017-03-31 23,725.00 10,210.00 1,513.00
2016-12-31 23,725.00 10,138.00 2,711.00
2016-09-30 24,311.00 8,858.00 2,337.00
2016-06-30 24,066.00 8,862.00 2,232.00
2016-03-31 23,643.00 8,835.00 1,723.00
2015-12-31 23,938.00 8,887.00 3,074.00
2015-09-30 24,032.00 8,951.00 4,822.00
2015-06-30 23,223.00 8,965.00 5,089.00
2015-03-31 22,595.00 8,949.00 5,390.00
2014-12-31 22,037.00 8,635.00 5,207.00
2014-09-30 22,194.00 6,213.00 3,108.00
2014-06-30 21,955.00 6,212.00 4,956.00
2014-03-31 21,829.00 6,217.00 5,326.00
2013-12-31 22,392.00 6,155.00 5,400.00
2013-09-30 21,994.00 6,156.00 5,942.00
2013-06-30 21,690.00 6,469.00 4,220.00
  • Phillips 66's level of debt (42.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (39.2% vs 42.3% today).
  • Debt is well covered by operating cash flow (41.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.9x coverage).
X
Financial health checks
We assess Phillips 66's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Phillips 66 has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

R66 Dividends

 What is Phillips 66's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.14%
Current annual income from Phillips 66 dividends. Estimated to be 6.61% next year.
If you bought €2,000 of Phillips 66 shares you are expected to receive €123 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Phillips 66's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.63%).
  • Phillips 66's dividend is above the markets top 25% of dividend payers in Germany (4.61%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:R66 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 8.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.6%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
Germany Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:R66 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 4.35 1.00
2023-12-31 4.15 1.00
2022-12-31 4.20 7.00
2021-12-31 3.86 14.00
2020-12-31 3.68 14.00
2020-04-08
DB:R66 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-05 3.600 5.698
2019-10-04 3.600 3.299
2019-07-10 3.600 3.582
2019-05-08 3.600 4.112
2019-02-06 3.200 3.346
2018-07-11 3.200 3.119
2018-05-09 3.200 2.771
2018-02-07 2.800 2.830
2017-10-09 2.800 2.879
2017-07-12 2.800 3.272
2017-05-03 2.800 3.525
2017-02-08 2.520 3.218
2016-10-07 2.520 3.031
2016-07-13 2.520 3.228
2016-05-04 2.520 3.196
2016-02-03 2.240 2.676
2015-10-09 2.240 2.666
2015-07-08 2.240 2.818
2015-05-06 2.240 2.813
2015-02-04 2.000 2.567
2014-10-01 2.000 2.788
2014-07-09 2.000 2.400
2014-05-07 2.000 2.412
2014-02-07 1.560 1.989
2013-10-02 1.560 2.268
2013-07-10 1.250 2.156
2013-05-08 1.250 1.999
2012-12-07 1.250 2.101
2012-10-03 1.000 2.107
2012-07-11 0.800 1.958

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Phillips 66 has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Phillips 66 only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Phillips 66's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess Phillips 66's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Phillips 66 afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Phillips 66 has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

R66 Management

 What is the CEO of Phillips 66's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Greg Garland
COMPENSATION $31,900,878
AGE 62
TENURE AS CEO 8 years
CEO Bio

Mr. Greg C. Garland has been the Chairman and Chief Executive Officer of Phillips 66 Partners GP LLC, the General Partner at Phillips 66 Partners LP since March 2013. Mr. Garland has been the Chairman of the Board and Chief Executive Officer of Phillips 66 since April 30, 2012 and served as its President since April 2012 until June 2014. He serves as Chairman and Chief Executive Officer Phillips 66 Pipeline LLC. He serves as a Vice President at American Fuel & Petrochemical Manufacturers. A Chemical Engineer, he has more than 30 years of industry experience in technical and executive leadership positions within the oil and natural gas and chemicals industries. He served as President of Phillips 66 from April 30, 2012 to June 2014. He served as a Senior Vice President of Exploration & Production - Americas at ConocoPhillips from October 6, 2010 to April 2012. Prior to joining ConocoPhillips in 2010, he served as the Chief Executive Officer and President of Chevron Phillips Chemical Co. LLC from April 1, 2008 to February 8, 2011. He served the Chief Executive Officer and President of Americas Styrenics LLC. Mr. Garland served as Senior Vice President, Planning and Specialty Chemicals from 2000 to 2008 at Chevron Phillips Chemical Company. Mr. Garland served as Senior Vice President of Planning & Specialty Products/Chemicals at Chevron Phillips Chemical Co. LLC from October 2001 to April 2008. From July 2000 to October 2001, he served as a Senior Vice President of Planning & Strategic Transactions of Chevron Phillips Chemical Co. LLC. He served as a General Manager of Qatar/Middle East for Chevron Phillips since 1997, General Manager of Natural Gas Liquids from 1995 to 1997 and also served as its Manager of Planning and Development in Planning and Technology. From 1992 to 1994, he served as Manager of the K-Resin® business unit at Chevron Phillips. He began his career with Phillips Petroleum in 1980 as a Project Engineer for the Plastics Technical Center. He later worked as a Sales Engineer for Phillips Petroleum Plastics Resins. He served as Business Service Manager for Advanced Materials, Business Development Director and Olefins Manager for Chemicals at Phillips Petroleum. He has been a Director of Phillips 66 since April 30, 2012 and Amgen Inc. since October 16, 2013. He serves as a Director at DCP Midstream, LLC and Phillips 66 Partners GP LLC. Mr. Garland has extensive experience in the energy industry, including his 35-year career with Phillips Petroleum Company, CPChem and ConocoPhillips. He serves as a Director at American Chemistry Council, Inc. He serves on the board of Junior Achievement of Southeast Texas. He serves on the board of the American Petroleum Institute, National Petroleum Council and The Greater Houston Partnership. He is a Member of the Engineering Advisory Board for Texas A&M University. Mr. Garland has extensive experience in the energy industry. He holds a Bachelor of Science in Chemical Engineering from Texas A&M University in 1980.

CEO Compensation
  • Greg's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Greg's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Phillips 66 management team in years:

3.5
Average Tenure
57
Average Age
  • The tenure for the Phillips 66 management team is about average.
Management Team

Greg Garland

TITLE
Chairman & CEO
COMPENSATION
$32M
AGE
62
TENURE
8 yrs

Kevin Mitchell

TITLE
Executive VP of Finance & CFO
COMPENSATION
$8M
AGE
53
TENURE
4.3 yrs

Paula Johnson

TITLE
Executive VP of Legal and Government Affairs
COMPENSATION
$8M
AGE
56
TENURE
3.5 yrs

Bob Herman

TITLE
Executive Vice President of Refining
COMPENSATION
$6M
AGE
60
TENURE
6.2 yrs

Tim Roberts

TITLE
Executive Vice President of Midstream
COMPENSATION
$5M
AGE
57
TENURE
1.7 yrs

Zhanna Golodryga

TITLE
SVP and Chief Digital & Administrative Officer
AGE
63
TENURE
3 yrs

Jeff Dietert

TITLE
Vice President of Investor Relations
TENURE
3 yrs

Sonya Reed

TITLE
Senior Vice President of Human Resources & Corporate Communications
AGE
45
TENURE
3.5 yrs

Pam McGinnis

TITLE
President of Global Marketing Group
TENURE
3.4 yrs

Jay Churchill

TITLE
Senior Vice President of Health
TENURE
3.6 yrs
Board of Directors Tenure

Average tenure and age of the Phillips 66 board of directors in years:

8
Average Tenure
66
Average Age
  • The tenure for the Phillips 66 board of directors is about average.
Board of Directors

Greg Garland

TITLE
Chairman & CEO
COMPENSATION
$32M
AGE
62
TENURE
8 yrs

James Ferguson

TITLE
Independent Director
COMPENSATION
$352K
AGE
64
TENURE
8 yrs

John Lowe

TITLE
Independent Director
COMPENSATION
$359K
AGE
60
TENURE
8 yrs

Glenn Tilton

TITLE
Lead Director
COMPENSATION
$413K
AGE
71
TENURE
4.2 yrs

Marna Whittington

TITLE
Independent Director
COMPENSATION
$367K
AGE
71
TENURE
8 yrs

Terry McGraw

TITLE
Independent Director
COMPENSATION
$335K
AGE
71
TENURE
8 yrs

Victoria Tschinkel

TITLE
Independent Director
COMPENSATION
$368K
AGE
70
TENURE
8 yrs

Denise Ramos

TITLE
Independent Director
COMPENSATION
$337K
AGE
62
TENURE
3.5 yrs

Gary Adams

TITLE
Independent Director
COMPENSATION
$339K
AGE
68
TENURE
3.5 yrs

Charles Holley

TITLE
Independent Director
COMPENSATION
$81K
AGE
62
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Phillips 66 individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
02. Mar 20 Buy John Lowe Individual 27. Feb 20 02. Mar 20 5,000 €68.81 €339,205
18. Nov 19 Sell Chukwuemeka Oyolu Individual 14. Nov 19 14. Nov 19 -464 €108.55 €-50,365
28. May 19 Buy John Lowe Individual 28. May 19 28. May 19 2,000 €74.19 €148,373
13. May 19 Buy John Lowe Individual 09. May 19 09. May 19 2,000 €75.15 €150,308
X
Management checks
We assess Phillips 66's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Phillips 66 has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

R66 News

Simply Wall St News

R66 Company Info

Description

Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined products to market; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas. The Chemicals segment manufactures and markets ethylene and other olefin products; aromatics and styrenics products, such as benzene, cyclohexane, styrene, and polystyrene; and various specialty chemical products, including organosulfur chemicals, solvents, catalysts, and chemicals used in drilling and mining. The Refining segment refines crude oil and other feedstocks into petroleum products comprising gasolines, distillates, and aviation fuels at 13 refineries in the United States and Europe. The M&S segment purchases for resale and markets refined petroleum products consisting of gasolines, distillates, and aviation fuels primarily in the United States and Europe. It also manufactures and markets specialty products, such as petroleum coke products, waxes, solvents, and polypropylene. Phillips 66 was founded in 1875 and is headquartered in Houston, Texas.

Details
Name: Phillips 66
R66
Exchange: DB
Founded: 1875
$23,570,589,022
437,837,800
Website: http://www.phillips66.com
Address: Phillips 66
2331 CityWest Boulevard,
Houston,
Texas, 77042,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE PSX Common Stock New York Stock Exchange US USD 12. Apr 2012
DB R66 Common Stock Deutsche Boerse AG DE EUR 12. Apr 2012
LSE 0KHZ Common Stock London Stock Exchange GB USD 12. Apr 2012
WBAG PSXC Common Stock Wiener Boerse AG AT EUR 12. Apr 2012
ETLX R66 Common Stock Eurotlx IT EUR 12. Apr 2012
BOVESPA P1SX34 BDR EACH REPR 2 COM Bolsa de Valores de Sao Paulo BR BRL 30. Dec 2019
Number of employees
Current staff
Staff numbers
14,500
Phillips 66 employees.
Industry
Oil and Gas Refining and Marketing
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 05:20
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/07
Last earnings filing: 2020/02/21
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.