Phillips 66 offers greater diversification than competitors, thanks to its substantial marketing, chemical, and midstream assets. While refining primarily drives near-term earnings, management prioritizes midstream growth.
Phillips 66 is expanding its midstream and chemical segments so that refining will represent a smaller portion of earnings over time, mitigate the risk of falling refined product demand and increase the valuation multiple.
Efforts to improve refining profitability and create value from an integrated downstream and midstream model might not prove successful, leaving shares and capital returns lagging peers.
|
Metric
|
PSX
|
DINO
|
MPC
|
|---|---|---|---|
Price/Earnings (Normalized) | 17.75 | 11.69 | 15.88 |
Price/Book Value | 3.35 | 1.95 | 6.23 |
Price/Sales | 0.70 | 0.66 | 0.81 |
Price/Cash Flow | 11.92 | 8.38 | 8.73 |
|
Metric
|
PSX
|
DINO
|
MPC
|
|---|---|---|---|
Quick Ratio | 0.86 | 1.07 | 0.86 |
Current Ratio | 1.32 | 1.97 | 1.25 |
Interest Coverage | 8.26 | 14.90 | 9.23 |
|
Metric
|
PSX
|
DINO
|
MPC
|
|---|---|---|---|
Return on Assets (Normalized) | 7.68% | 10.06% | 12.75% |
Return on Equity (Normalized) | 20.95% | 18.47% | 62.83% |
Return on Invested Capital (Normalized) | 13.25% | 14.49% | 20.88% |
|
1-Day Chart
|
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United States