PHILLIPS 66 (PSX) Valuation
Historical valuation analysis based on 1281 data points (2021-09-10 to 2026-10-16)
Phillips 66 is an independent refiner that owns or holds interest in 10 refineries with a total crude throughput capacity of 2.0 million barrels per day, or mmb/d, at the end of 2025. The midstream...
PHILLIPS 66 (PSX) currently trades at a P/E ratio of 16.49 (historical range: 3.42–51.05, median: 11.79), placing it at the 69th percentile — above its historical average, P/S ratio of 0.77 (range: 0.24–0.78, 100th percentile — expensive relative to its history), EV/EBITDA of 17.80 (range: 4.64–61.11, 58th percentile).
Over the historical period (2021-09-10 to 2026-10-16), PHILLIPS 66's P/E ratio has expanded by 204% over the observed period (from an average of 7.1 to 21.6).
PHILLIPS 66 trades well above its own historical valuation range across most metrics.
Historical Valuation Metrics
| Metric | Current | Median | %ile | Assessment |
|---|---|---|---|---|
| P/E Ratio | 16.49 | 11.79 | 69th | above its historical average |
| P/S Ratio | 0.77 | 0.37 | 100th | expensive relative to its history |
| EV/EBITDA | 17.80 | 16.02 | 58th | near its historical average |
| FCF Yield | 5.47% | 7.82% | 26th | above its historical average |
PHILLIPS 66 (PSX) Valuation & P/E History
PHILLIPS 66 (PSX) is a US-listed stock operating in the Energy sector, specifically the Petroleum Refining industry currently trading at $293.16 with a market capitalization of $117.0 billion. This page provides historical valuation analysis for PSX based on 1281 data points covering 2021-09-10 to 2026-10-16. The P/E ratio of 16.49 is above the historical median of 11.79, placing PSX at the 69th percentile of its valuation range. The P/S ratio of 0.77 compares to a median of 0.37.
PSX Valuation Metrics & Historical Range
The valuation table above shows PHILLIPS 66's current and historical valuation multiples, including P/E ratio, P/S ratio, EV/EBITDA, FCF yield, and dividend yield. Each metric is compared to its own historical range to determine whether PSX is currently trading above or below its typical valuation levels.
- P/E ratio: Price-to-earnings measures how much investors pay per dollar of earnings. A P/E above the historical median suggests PSX is expensively valued; below the median suggests it is cheap.
- P/S ratio: Price-to-sales is useful for companies with volatile or negative earnings. Lower P/S relative to history may indicate value.
- EV/EBITDA: Enterprise value to EBITDA adjusts for debt and cash, providing a capital-structure-neutral valuation measure for PHILLIPS 66.
- FCF yield: Free cash flow yield shows the cash return relative to market price. Higher yields may indicate undervaluation.
Is PSX Overvalued or Undervalued?
PHILLIPS 66 trades well above its own historical valuation range across most metrics. The overall valuation percentile of 76 combines P/E, P/S, and EV/EBITDA percentiles into a single measure of how expensive PSX is relative to its own history. A percentile below 25 suggests the stock may be undervalued, while a percentile above 75 suggests it may be overvalued.
However, valuation is only one factor in investment decisions. A stock can remain "overvalued" for years if growth accelerates, or "undervalued" if the business deteriorates. Always combine valuation analysis with financial statement analysis and the full PSX analysis page for a complete picture.
Valuation data is computed from historical price and fundamental data via Polygon.io and Finnhub.PSX trades on NYSE/NASDAQ. This page is for informational purposes only and is not financial advice.