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Phillips 66

phillips66.com

How Do They Make Money?

revenue
SegmentShareRevenue
Refined petroleum products and renewable fuels
74%
FY2022: 78%
Crude oil resales
11%
FY2022: 12%
NGL and natural gas
13%
FY2022: 9.5%
Services and other
2.1%
FY2022: 0.9%

Do Revenues Turn Into Profits?

Yes. It kept 3 cents of every revenue dollar as net income in FY2025.

Operating income, FY2025
10% of revenue
▲ +34% vs FY2024 ($10.4B, 7%)
Net income, FY2025
3% of revenue
▲ +108% vs FY2024 ($2.1B, 1%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Revenue
▲ +53%
vs $33.3B in Q2 FY2025
Net income
▲ +339%
vs $877M in Q2 FY2025
Refined petroleum products and renewable fuels share of revenue vs 72.7% in Q2 FY2025

Growing. Revenue grew 19% in 4 years, from $111.5B in FY2021 to $132.4B in FY2025, about 4% a year.

Revenue over time
Refined petroleum products and renewable fuels Crude oil resales NGL and natural gas Services and other Refined petroleum products
$200B$100B$0

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