Phillips 66 (PSX) FY2025 10-K Annual Report
Phillips 66 (PSX) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 20, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Phillips 66 FY2025 10-K Analysis
Management Discussion & Analysis
- • Revenue decreased 8% in 2025 due to lower prices, partially offset by higher sales volumes; operating cash flow $5B with net income $4.4B vs $2.1B in 2024
- • Operating margin improved with realized refining margins $10.88/bbl in 2025 vs $8.84/bbl in 2024; net income margin approx. 10.9% on net income $4.4B and revenue implied higher than prior year
Risk Factors
- • Regulatory risk: California Senate Bill No. 2 (SBx 1-2) imposes maximum gasoline refining margin and financial penalties, expanding California Energy Commission oversight and maintenance reporting requirements
- • Geopolitical risk: Conflicts in Middle East, Eastern Europe, South America disrupt crude oil supply, impacting Midstream, Refining, and Marketing segments and pipeline volumes
Phillips 66 FY2025 Key Financial MetricsXBRL
Revenue
$132.4B
▼ -7.5% YoY
Net Income
$4.4B
▲ +108.0% YoY
Net Margin
3.3%
▲ +185bp YoY
ROE
15.1%
▲ +741bp YoY
Total Assets
$73.7B
▲ +1.5% YoY
EPS (Diluted)
$10.79
▲ +116.2% YoY
Operating Cash Flow
$5.0B
▲ +18.4% YoY
Source: XBRL data from Phillips 66 FY2025 10-K filing on SEC EDGAR. All figures in USD.
Get deeper insights on Phillips 66
Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.