Phillips 66 (PSX) Operating Expenses (2016 - 2026)

Phillips 66 filings provide 16 years of Operating Expenses readings, the most recent being $32.7 billion for Q1 2026.

On a quarterly basis, Operating Expenses rose 5.35% to $32.7 billion in Q1 2026 year-over-year; TTM through Mar 2026 was $132.8 billion, a 4.06% decrease, with the full-year FY2025 number at $131.1 billion, down 8.18% from a year prior.
Operating Expenses hit $32.7 billion in Q1 2026 for Phillips 66, roughly flat from $32.9 billion in the prior quarter.
In the past five years, Operating Expenses ranged from a high of $45.2 billion in Q2 2022 to a low of $31.1 billion in Q1 2025.
Median Operating Expenses over the past 5 years was $35.5 billion (2024), compared with a mean of $35.8 billion.
Biggest five-year swings in Operating Expenses: soared 64.68% in 2022 and later decreased 25.9% in 2023.
Phillips 66's Operating Expenses stood at $38.4 billion in 2022, then dropped by 3.6% to $37.0 billion in 2023, then decreased by 8.06% to $34.0 billion in 2024, then fell by 3.29% to $32.9 billion in 2025, then fell by 0.42% to $32.7 billion in 2026.
The last three reported values for Operating Expenses were $32.7 billion (Q1 2026), $32.9 billion (Q4 2025), and $34.8 billion (Q3 2025) per Business Quant data.

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