Phillips 66 (PSX) P/E Ratio History
Fairly ValuedTrading at 16.4x, near 5Y avg of 18.1x · 60th percentile · In line with own history · Data 2012–2026
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P/E Ratio Analysis
As of July 7, 2026, Phillips 66 (PSX) trades at a price-to-earnings ratio of 16.4x, with a stock price of $177.33 and trailing twelve-month earnings per share of $10.22.
The current P/E is roughly in line with its 5-year average of 18.1x. Over the past five years, PSX's P/E has ranged from a low of 3.7x to a high of 78.9x, placing the current valuation at the 60th percentile of its historical range.
Compared to the Energy sector median P/E of 16.0x, PSX is roughly in line with its sector peers. The sector includes 174 companies with P/E ratios ranging from 0.5x to 155.3x.
Relative to the broader market, PSX trades at a notable discount to the S&P 500 median P/E of 25.6x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our PSX DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
PSX Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
PSX P/E vs Peers
Petroleum Refining and Marketing peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $81B | 35.7 | - | -12% | |
| $79B | 20.3 | - | +32% | |
| $335B | 25.4 | - | -32% | |
| $566B | 20.4 | - | -15% | |
| $126B | 16.3 | - | -19% | |
| $58B | 11.8Lowest | - | +14% | |
| $117B | 23.5 | 1.38 | +38%Best | |
| $17B | 14.6 | 0.71Best | -25% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
PSX Historical P/E Data (2012–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | - | $182.18 | $10.15 | 17.9x | +24% |
| FY2025 Q4 | Dec 31 2025 | $129.04 | $10.82 | 11.9x | -18% |
| FY2025 Q3 | - | $136.02 | $3.66 | 37.2x | +156% |
| FY2025 Q2 | Jun 30 2025 | $119.30 | $4.16 | 28.7x | +98% |
| FY2025 Q1 | Mar 31 2025 | $123.48 | $4.39 | 28.1x | +94% |
| FY2024 Q4 | - | $113.93 | $4.94 | 23.1x | +59% |
| FY2024 Q3 | Sep 30 2024 | $131.45 | $7.78 | 16.9x | +16% |
| FY2024 Q2 | Jun 30 2024 | $141.17 | $11.65 | 12.1x | -17% |
| FY2024 Q1 | Mar 31 2024 | $163.34 | $12.99 | 12.6x | -13% |
| FY2023 Q4 | Dec 31 2023 | $133.14 | $15.46 | 8.6x | -41% |
| FY2023 Q3 | Sep 30 2023 | $120.15 | $16.58 | 7.2x | -50% |
| FY2023 Q2 | Jun 30 2023 | $95.38 | $23.05 | 4.1x | -72% |
| FY2023 Q1 | Mar 31 2023 | $101.38 | $25.86 | 3.9x | -73% |
| FY2022 Q4 | Dec 31 2022 | $104.08 | $22.95 | 4.5x | -69% |
| FY2022 Q3 | Sep 30 2022 | $80.72 | $21.86 | 3.7x | -75% |
| FY2022 Q2 | - | $81.99 | $11.61 | 7.1x | -51% |
| FY2022 Q1 | - | $86.39 | $5.74 | 15.1x | +4% |
| FY2021 Q4 | Dec 31 2021 | $72.46 | $2.96 | 24.5x | +68% |
| FY2020 Q1 | - | $53.65 | $0.68 | 78.9x | +443% |
| FY2019 Q4 | - | $111.41 | $6.78 | 16.4x | +13% |
| FY2019 Q3 | Sep 30 2019 | $102.40 | $9.96 | 10.3x | -29% |
| FY2019 Q2 | Jun 30 2019 | $93.54 | $11.56 | 8.1x | -44% |
| FY2019 Q1 | Mar 31 2019 | $95.17 | $11.28 | 8.4x | -42% |
| FY2018 Q4 | Dec 31 2018 | $86.15 | $11.91 | 7.2x | -50% |
| FY2018 Q3 | Sep 30 2018 | $112.72 | $13.34 | 8.4x | -42% |
| FY2018 Q2 | Jun 30 2018 | $112.31 | $11.76 | 9.6x | -34% |
| FY2018 Q1 | Mar 31 2018 | $95.92 | $9.98 | 9.6x | -34% |
| FY2017 Q4 | Dec 31 2017 | $101.15 | $9.93 | 10.2x | -30% |
| FY2017 Q3 | Sep 30 2017 | $91.61 | $3.99 | 23.0x | +58% |
| FY2017 Q2 | Jun 30 2017 | $82.69 | $3.35 | 24.7x | +70% |
| FY2017 Q1 | Mar 31 2017 | $79.22 | $3.22 | 24.6x | +69% |
| FY2016 Q4 | Dec 31 2016 | $86.41 | $2.92 | 29.6x | +104% |
| FY2016 Q3 | Sep 30 2016 | $80.55 | $3.81 | 21.1x | +46% |
| FY2016 Q2 | - | $79.34 | $5.75 | 13.8x | -5% |
| FY2016 Q1 | - | $86.59 | $6.66 | 13.0x | -11% |
| FY2015 Q4 | - | $81.80 | $7.73 | 10.6x | -27% |
| FY2015 Q3 | Sep 30 2015 | $76.84 | $8.58 | 9.0x | -38% |
| FY2015 Q2 | - | $80.56 | $7.77 | 10.4x | -29% |
| FY2015 Q1 | - | $78.60 | $7.44 | 10.6x | -27% |
| FY2014 Q4 | Dec 31 2014 | $71.70 | $8.32 | 8.6x | -41% |
| FY2014 Q3 | - | $81.31 | $7.64 | 10.6x | -27% |
| FY2014 Q2 | Jun 30 2014 | $80.43 | $6.42 | 12.5x | -14% |
| FY2014 Q1 | Mar 31 2014 | $77.06 | $6.44 | 12.0x | -18% |
| FY2013 Q4 | - | $77.13 | $6.00 | 12.9x | -12% |
| FY2013 Q3 | Sep 30 2013 | $57.82 | $5.74 | 10.1x | -31% |
| FY2013 Q2 | Jun 30 2013 | $58.91 | $7.38 | 8.0x | -45% |
| FY2013 Q1 | Mar 31 2013 | $69.97 | $7.71 | 9.1x | -38% |
| FY2012 Q4 | Dec 31 2012 | $53.10 | $6.47 | 8.2x | -44% |
| FY2012 Q3 | Sep 30 2012 | $46.37 | $8.50 | 5.5x | -62% |
| FY2012 Q2 | Jun 30 2012 | $33.24 | $7.63 | 4.4x | -70% |
Average P/E for displayed period: 14.5x
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
14+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
PSX — Frequently Asked Questions
Quick answers to the most common questions about buying PSX stock.
What is PSX's P/E ratio?
Phillips 66 (PSX) trailing twelve-month P/E ratio is 16.4x, based on TTM diluted EPS of $10.22. The 5-year average P/E is 18.1x and the historical range spans 3.7x to 78.9x.
Is PSX stock overvalued or undervalued?
PSX trades at 16.4x P/E, near its 5-year average of 18.1x. The 60th percentile ranking within the 3.7x–78.9x historical range places valuation within normal bounds.
Is PSX stock expensive?
PSX is fairly valued relative to its own history. The current P/E of 16.4x is near the 5-year average of 18.1x (60th percentile of historical range).
What is PSX's historical P/E range?
Over the past 5 years, PSX's P/E ratio has ranged from 3.7x to 78.9x, with a median of 15.1x and an average of 18.1x. The current P/E of 16.4x places the stock at the 60th percentile of this range. Full historical data spans 2012–2026.
How does PSX's P/E compare to the S&P 500?
PSX trades at 16.4x P/E versus the S&P 500 median of 25.6x. The 36% discount to the market suggests lower growth expectations or perceived higher risk.
How does PSX's valuation compare to Energy peers?
Phillips 66 P/E of 16.4x compares to the Energy sector median of 16.0x. The premium reflects expected growth above peers or stronger fundamentals. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is PSX's PEG ratio?
PSX PEG ratio is N/A, based on a P/E of 16.4x and EPS growth of 116.2%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is PSX's earnings yield?
PSX earnings yield is 6.08%, the inverse of its 16.4x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.