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Phillips 66 FY 2025 10-K, explained in plain English

PSX · 10-K for the period ending December 31, 2025, filed February 20, 2026 · Read the original on SEC.gov →

Key financials — as reported

Total revenue$132.4B
Gross margin12.3%
Operating income— not reported
Net income$4.4B
Diluted EPS$10.79
Cash & equivalents$1.1B
Total assets$73.7B
Long-term debt$18.7B

Key takeaway

Phillips 66 reported $132.4 billion in revenue and $4.4 billion in net income for fiscal 2025, translating to diluted EPS of $10.79.

🔒 4 more takeaways in the full analysis

Beneath the surface

Cash of $1.12 billion versus total debt of roughly $19.7 billion (DebtAndCapitalLeaseObligations) implies a substantial net debt position of nearly $18.6 billion, far exceeding what the headline cash figure alone suggests.

🔒 4 more insights a headline reader would miss

This is the free preview. The full analysis explains every line item above and includes 8 more findings — plus insider trades, activist stakes, and 8-K events for PSX.

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