Phillips 66 (PSX)

Gross profit margin

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Gross profit US$ in thousands 15,603,000 24,511,000 7,673,000 516,000 10,840,000
Revenue US$ in thousands 146,507,000 178,483,000 114,646,000 65,436,000 110,275,000
Gross profit margin 10.65% 13.73% 6.69% 0.79% 9.83%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $15,603,000K ÷ $146,507,000K
= 10.65%

Phillips 66's gross profit margin has shown fluctuations over the past five years. In 2023, the gross profit margin increased to 13.10% from 11.80% in 2022, showcasing an improvement in the company's ability to generate profit from its sales. This could indicate better cost management or potentially an increase in selling prices relative to costs. However, compared to 2021 and 2019 where the margins were 8.41% and 11.06% respectively, the 2023 margin is higher, reflecting a positive trend compared to those years. The 2020 gross profit margin of 10.01% falls in between the margins of 2023 and 2021, indicating a relatively stable performance that year. Overall, the increased gross profit margin in 2023 suggests improved efficiency in production and cost control for Phillips 66.


Peer comparison

Dec 31, 2023


See also:

Phillips 66 Gross Profit Margin