Phillips 66

PSXNYSEEnergy● Active

$183.08

$-1.06(-0.58%)

Market Cap$73.4B

P/E Ratio—

52W High$190.61

52W Low$111.37

Avg Volume3.1M

Open$183.63

Beta0.67

Overview

Phillips 66 (PSX) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

PSX · free cash flow · updated Jun 8, 2026

Core FCF metrics

PSX · FCF · TTM · margin & CAGR

Free cash flow was $2.73B for FY2025 (fiscal year ending 2025-12-31), up 17.0% year-over-year The FCF margin was 2.1%.

FY2025 Free Cash Flow$2.73B▲ +17.0% YoY

Trailing 12M (TTM)$119.0Mtrailing 4 quarters sum

FCF Margin2.1%$2.73B ÷ revenue

3-Year CAGR-31.8%FY2022 → FY2025

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

PSX · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$4.96B(2.23B)$2.73B▲ +17.0%2.1%

FY2024$4.19B(1.86B)$2.33B▼ 49.4%1.6%

FY2023$7.03B(2.42B)$4.61B▼ 46.5%3.1%

FY2022$10.81B(2.19B)$8.62B▲ +107.3%5.1%

FY2021$6.02B(1.86B)$4.16B▲ +613.8%3.7%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

PSX · P/FCF · FCF yield · FCF per share

Phillips 66 (PSX) trades at a FCF yield of 0.16% and a price-to-free-cash-flow ratio of 631.3x. FCF per share stands at $0.29, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

0.16%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$0.29

TTM FCF ÷ Shares Outstanding

Price / FCF

x631.3

Share Price ÷ FCF per Share

EV / FCF (TTM)

x801.5

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

PSX · cash flow statement · operating / investing / financing

For FY2025, Phillips 66 generated $4.96B in operating cash flow and spent 2.23B in capital expenditures, yielding $2.73B in free cash flow.

Operating Activities

+$4.96B

Cash from core business operations

2025-12-31

Investing Activities

−$1.97B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$3.67B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($4.96B) − |CapEx| (2.23B) = FCF ($2.73B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Energy)

PSX vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Phillips 66YOU

PSX

$2.73B+17.0%2.1%

12%

Exxon Mobil Corporation

Energy · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Phillips 66 (PSX) reported free cash flow of $2.73B for FY2025 (fiscal year ending 2025-12-31), up 17.0% year-over-year. The FCF margin was 2.1%.

Based on available data, Phillips 66 has maintained positive free cash flow for at least 12 fiscal year(s). FCF peaked at $8.62B in FY2022.

Phillips 66's FCF yield is 0.16% and price-to-FCF ratio is 631.3x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

PSX free cash flow · 8 questions

Phillips 66 free cash flow was $2.73B for FY2025, up 17.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $119.0M.

PSX free cash flowPSX FCFPSX FCF 2025PSX free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Phillips 66 · Phillips 66 SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026