Phillips 66 (PSX) Gross Margin (2012 - 2026)
Phillips 66 (PSX) reported Gross Margin of 94.3% for Q1 2026, down 37.0% on a YoY basis from 149.68% in Q1 2025, and up 145.56% quarter-over-quarter from 206.99% in Q4 2025.
Phillips 66 (PSX) Gross Margin (2012 - 2026) Analysis & Trends
Phillips 66 has reported Gross Margin for 15 years, with the latest figure at 94.3% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin fell 37.0% year-over-year to 94.3%; the trailing twelve-month figure through Mar 2026 stood at 25.31% (down 5256.0% YoY), and the FY2025 full-year result was 14.99%, up 577.0% from the prior year.
- Gross Margin for Q1 2026 stood at 94.3%, up from 206.99% in the prior quarter.
- The five-year high for Gross Margin was 327.39% in Q4 2023, with the low at 206.99% in Q4 2025.
- Historically, Gross Margin has averaged 51.42% across 5 years, with a median of 14.08% in 2022.
- Annual changes were most pronounced in 2023 — Gross Margin surged 31331 bps — and 2024, when it tumbled 32458 bps.
- Phillips 66's Gross Margin stood at 14.08% in 2022, then jumped by 2225 bps to 327.39% in 2023, then sank by 99 bps to 2.81% in 2024, then sank by 7468 bps to 206.99% in 2025, then soared by 146 bps to 94.3% in 2026.
- The last three Gross Margin figures came in at 94.3% (Q1 2026), 206.99% (Q4 2025), and 13.61% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Marathon Petroleum | 76.18 Bn | 80.70 Bn | 3.31 Bn | 9.57% |
| 2 | Valero Energy | 75.63 Bn | 72.96 Bn | 30.79 Bn | 95.07% |
| 3 | Phillips 66 | 71.92 Bn | 67.92 Bn | 31.12 Bn | 94.30% |
| 4 | HF Sinclair | 12.56 Bn | 11.48 Bn | 1.19 Bn | 16.72% |
| 5 | Sunoco | 8.81 Bn | 8.10 Bn | 1.69 Bn | 15.80% |
| 6 | Cosan | 5.12 Bn | 250.68 Mn | 552.94 Mn | 31.01% |
| 7 | Icahn Enterprises | 4.72 Bn | 3.42 Bn | -134.00 Mn | -6.07% |
| 8 | PBF Energy | 4.49 Bn | 4.08 Bn | 278.50 Mn | 3.52% |
| 9 | Cvr Energy | 3.16 Bn | 2.85 Bn | -103.00 Mn | -5.20% |
| 10 | Delek US Holdings | 2.80 Bn | 2.43 Bn | -130.20 Mn | -4.91% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 94.30% |
| Dec 31, 2025 | -206.99% |
| Sep 30, 2025 | 13.61% |
| Jun 30, 2025 | 13.26% |
| Mar 31, 2025 | 94.67% |
| Dec 31, 2024 | 2.81% |
| Sep 30, 2024 | 10.98% |
| Jun 30, 2024 | 9.18% |
| Mar 31, 2024 | 96.01% |
| Dec 31, 2023 | 327.39% |
| Sep 30, 2023 | 95.95% |
| Jun 30, 2023 | 96.13% |
| Mar 31, 2023 | 95.41% |
| Dec 31, 2022 | 14.08% |
| Sep 30, 2022 | 96.41% |
| Jun 30, 2022 | 13.51% |
| Mar 31, 2022 | 7.42% |
| Dec 31, 2021 | 96.04% |
| Sep 30, 2021 | 12.53% |
| Jun 30, 2021 | 9.56% |