Phillips 66 annual debt-to-equity ratio
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Phillips 66 Debt-to-Equity Ratio Growth & History (PSX)
Phillips 66's debt-to-equity ratio was 0.74 for fiscal 2025.
View full Phillips 66 company overviewPhillips 66 annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.74 | −0.04 | −5.05% |
| 2024 | 2024-12-31 | 0.78 | 0.11 | +16.51% |
| 2023 | 2023-12-31 | 0.67 | 0.05 | +8.58% |
| 2022 | 2022-12-31 | 0.62 | −0.19 | −23.71% |
| 2021 | 2021-12-31 | 0.81 | −0.09 | −10.20% |
| 2020 | 2020-12-31 | 0.90 | 0.38 | +72.43% |
| 2019 | 2019-12-31 | 0.52 | 0.07 | +15.50% |
| 2018 | 2018-12-31 | 0.45 | 0.05 | +12.32% |
| 2017 | 2017-12-31 | 0.40 | −0.05 | −10.99% |
| 2016 | 2016-12-31 | 0.45 | 0.07 | +17.69% |
| 2015 | 2015-12-31 | 0.38 | −0.02 | −3.81% |
| 2014 | 2014-12-31 | 0.40 | 0.12 | +42.63% |
| 2013 | 2013-12-31 | 0.28 | −0.06 | −16.47% |
| 2012 | 2012-12-31 | 0.34 | 0.32 | +1897.32% |
| 2011 | 2011-12-31 | 0.02 | — | — |
Phillips 66 quarterly debt-to-equity ratio
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| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.60 | −0.03 | −4.79% |
| Q1 2026 | 2026-03-31 | 0.65 | 0.00 | +0.63% |
| Q4 2025 | 2025-12-31 | 0.74 | −0.04 | −5.05% |
| Q3 2025 | 2025-09-30 | 0.71 | 0.07 | +10.70% |
| Q2 2025 | 2025-06-30 | 0.63 | 0.04 | +7.27% |
| Q1 2025 | 2025-03-31 | 0.65 | 0.05 | +8.46% |
| Q4 2024 | 2024-12-31 | 0.78 | 0.11 | +16.51% |
| Q3 2024 | 2024-09-30 | 0.64 | 0.04 | +6.99% |
| Q2 2024 | 2024-06-30 | 0.58 | −0.05 | −8.38% |
| Q1 2024 | 2024-03-31 | 0.60 | 0.02 | +2.73% |
| Q4 2023 | 2023-12-31 | 0.67 | 0.05 | +8.58% |
| Q3 2023 | 2023-09-30 | 0.60 | −0.02 | −3.86% |
| Q2 2023 | 2023-06-30 | 0.64 | 0.10 | +19.17% |
| Q1 2023 | 2023-03-31 | 0.58 | −0.01 | −1.73% |
| Q4 2022 | 2022-12-31 | 0.62 | −0.19 | −23.71% |
| Q3 2022 | 2022-09-30 | 0.63 | −0.11 | −15.47% |
| Q2 2022 | 2022-06-30 | 0.53 | −0.18 | −24.98% |
| Q1 2022 | 2022-03-31 | 0.59 | −0.23 | −28.34% |
| Q4 2021 | 2021-12-31 | 0.81 | −0.09 | −10.20% |
| Q3 2021 | 2021-09-30 | 0.74 | 0.10 | +15.21% |
| Q2 2021 | 2021-06-30 | 0.71 | 0.10 | +16.49% |
| Q1 2021 | 2021-03-31 | 0.83 | 0.33 | +65.29% |
| Q4 2020 | 2020-12-31 | 0.90 | 0.38 | +72.43% |
| Q3 2020 | 2020-09-30 | 0.64 | 0.14 | +29.04% |
| Q2 2020 | 2020-06-30 | 0.61 | 0.12 | +25.50% |
| Q1 2020 | 2020-03-31 | 0.50 | −0.02 | −3.60% |
| Q4 2019 | 2019-12-31 | 0.52 | 0.07 | +15.50% |
| Q3 2019 | 2019-09-30 | 0.50 | 0.03 | +5.30% |
| Q2 2019 | 2019-06-30 | 0.49 | −0.00 | −0.42% |
| Q1 2019 | 2019-03-31 | 0.52 | −0.01 | −1.48% |
| Q4 2018 | 2018-12-31 | 0.45 | 0.05 | +12.32% |
| Q3 2018 | 2018-09-30 | 0.47 | 0.04 | +9.80% |
| Q2 2018 | 2018-06-30 | 0.49 | 0.07 | +15.51% |
| Q1 2018 | 2018-03-31 | 0.53 | 0.10 | +23.03% |
| Q4 2017 | 2017-12-31 | 0.40 | −0.05 | −10.99% |
| Q3 2017 | 2017-09-30 | 0.43 | 0.11 | +35.52% |
| Q2 2017 | 2017-06-30 | 0.42 | 0.10 | +31.96% |
| Q1 2017 | 2017-03-31 | 0.43 | 0.04 | +11.13% |
| Q4 2016 | 2016-12-31 | 0.45 | 0.07 | +17.69% |
| Q3 2016 | 2016-09-30 | 0.32 | −0.07 | −17.30% |
| Q2 2016 | 2016-06-30 | 0.32 | −0.08 | −19.48% |
| Q1 2016 | 2016-03-31 | 0.39 | −0.02 | −5.70% |
| Q4 2015 | 2015-12-31 | 0.38 | −0.02 | −3.81% |
| Q3 2015 | 2015-09-30 | 0.38 | 0.10 | +35.19% |
| Q2 2015 | 2015-06-30 | 0.40 | 0.11 | +38.86% |
| Q1 2015 | 2015-03-31 | 0.41 | 0.12 | +41.82% |
| Q4 2014 | 2014-12-31 | 0.40 | 0.12 | +42.63% |
| Q3 2014 | 2014-09-30 | 0.28 | −0.00 | −0.16% |
| Q2 2014 | 2014-06-30 | 0.29 | −0.01 | −3.71% |
| Q1 2014 | 2014-03-31 | 0.29 | −0.04 | −11.39% |
| Q4 2013 | 2013-12-31 | 0.28 | −0.06 | −16.47% |
| Q3 2013 | 2013-09-30 | 0.28 | −0.07 | −20.82% |
| Q2 2013 | 2013-06-30 | 0.30 | −0.12 | −29.28% |
| Q1 2013 | 2013-03-31 | 0.33 | 0.09 | +36.01% |
| Q4 2012 | 2012-12-31 | 0.34 | 0.32 | +1897.32% |
| Q3 2012 | 2012-09-30 | 0.36 | — | — |
| Q2 2012 | 2012-06-30 | 0.42 | — | — |
| Q1 2012 | 2012-03-31 | 0.24 | — | — |
| Q4 2011 | 2011-12-31 | 0.02 | — | — |
Phillips 66 debt-to-equity ratio trends
Over the last five fiscal years, Phillips 66's debt-to-equity ratio decreased from 0.90 to 0.74, a change of −0.16. The latest reported quarter, Q2 2026, shows 0.60.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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