Phillips 66 (PSX) Operating Margin (2012 - 2026)
Phillips 66's (PSX) quarterly Operating Margin came in at 87.74% in Q1 2026, down 8028.0% YoY from 1.11% in Q1 2025, and down 984.91% on a QoQ basis from 8.09% in Q4 2025.
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Phillips 66 (PSX) Operating Margin (2012 - 2026) Analysis & Trends
Phillips 66 (PSX) has 15 years of Operating Margin data on file, last reported at 87.74% in Q1 2026.
- Quarterly Operating Margin fell 8028.0% year-over-year to 87.74% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 66.99% (up 2662.0% YoY) and the FY2025 annual result came in at 3.92%, up 8357.0% from the prior year.
- Operating Margin fell to 87.74% in Q1 2026, from 8.09% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 274.57% in Q4 2022 to a low of 369.61% in Q4 2024.
- A 5-year average of 59.94% and a median of 78.52% in 2022 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2023 — Operating Margin slumped 59388 bps — and 2025, when it jumped 36153 bps.
- Tracing PSX's Operating Margin over 5 years: stood at 274.57% in 2022, then sank by 216 bps to 319.31% in 2023, then slipped by 16 bps to 369.61% in 2024, then surged by 98 bps to 8.09% in 2025, then slumped by 985 bps to 87.74% in 2026.
- The last three Operating Margin figures came in at 87.74% (Q1 2026), 8.09% (Q4 2025), and 85.82% (Q3 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Marathon Petroleum | 111.49 Bn | 103.72 Bn | 9.27 Bn | 13.99% |
| 2 | Valero Energy | 107.11 Bn | 99.23 Bn | 5.47 Bn | 11.68% |
| 3 | Phillips 66 | 102.46 Bn | 98.36 Bn | 8.38 Bn | -74.35% |
| 4 | HF Sinclair | 19.06 Bn | 16.80 Bn | 1.57 Bn | 11.24% |
| 5 | Sunoco | 10.46 Bn | 9.69 Bn | 1.46 Bn | 4.09% |
| 6 | PBF Energy | 8.88 Bn | 7.99 Bn | 1.15 Bn | 10.89% |
| 7 | Ultrapar Holdings | 7.71 Bn | 5.59 Bn | 912.61 Mn | 14.59% |
| 8 | Icahn Enterprises | 4.58 Bn | 2.60 Bn | 198.00 Mn | -102.66% |
| 9 | Delek US Holdings | 4.41 Bn | 3.78 Bn | 365.10 Mn | 7.40% |
| 10 | Cvr Energy | 4.29 Bn | 3.56 Bn | 117.00 Mn | 2.85% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -74.35% |
| Mar 31, 2026 | -87.74% |
| Dec 31, 2025 | -70.69% |
| Sep 30, 2025 | -85.82% |
| Jun 30, 2025 | -83.40% |
| Mar 31, 2025 | -85.14% |
| Dec 31, 2024 | -90.53% |
| Sep 30, 2024 | -87.88% |
| Jun 30, 2024 | -85.62% |
| Mar 31, 2024 | -86.24% |
| Dec 31, 2023 | -82.82% |
| Sep 30, 2023 | -78.16% |
| Jun 30, 2023 | -79.26% |
| Mar 31, 2023 | -76.06% |
| Dec 31, 2022 | -79.69% |
| Sep 30, 2022 | -64.57% |
| Jun 30, 2022 | -78.16% |
| Mar 31, 2022 | -88.96% |
| Dec 31, 2021 | -82.41% |
| Sep 30, 2021 | -86.05% |