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Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
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Company details
Market cap
~$69B
P/E ratio
~17×
Div yield
~3.1%
Revenue (2025)
$132B
Net income (2025)
$4.4B
EPS (2025)
$10.79
Refining capacity
~2.0M bpd
Rev. growth
-8%
In plain English
Phillips 66 is a diversified downstream energy company spun out of ConocoPhillips in 2012: it runs ten refineries turning ~2 million barrels of crude a day into fuels, a fast-growing midstream pipeline-and-NGL business (DCP, EPIC), a half-share of petrochemical giant CPChem, and a marketing arm whose 76-, Phillips 66- and JET-branded stations sell those fuels to drivers. Activist Elliott has spent since 2023 pushing it to break the integrated model apart.
In simple terms
What Phillips 66 really sells
Phillips 66 is a diversified downstream energy company spun out of ConocoPhillips in 2012: it runs ten refineries turning ~2 million barrels of crude a day into fuels, a fast-growing midstream pipeline-and-NGL business (DCP, EPIC), a half-share of petrochemical giant CPChem, and a marketing arm whose 76-, Phillips 66- and JET-branded stations sell those fuels to drivers. Activist Elliott has spent since 2023 pushing it to break the integrated model apart.
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