Phillips 66 (PSX) Operating Margin: 2.66%
Is Phillips 66’s operating margin high or low?
Phillips 66's operating margin of 2.66% is 14% above its 5-year average of 2.34%, around the middle of its 5-year range (-2.87%–5.92%).
The operating margin for Phillips 66 (PSX) is 2.66% as of Tuesday, June 9, 2026. It is above its 12-month average by 24.30% (2.14%).
PSX Operating Margin Chart
PSX Average Operating Margin Chart
PSX Current vs Average Operating Margin Chart
PSX Operating Margin Metrics
OPERATING MARGIN
2.66%
OPERATING MARGIN AVG TTM
2.14%
OPERATING MARGIN AVG 3Y
3.95%
OPERATING MARGIN AVG 5Y
2.34%
OPERATING MARGIN AVG 10Y
2.80%
OPERATING MARGIN AVG 15Y
2.41%
OPERATING MARGIN AVG 20Y
2.25%
CURRENT VS TTM AVG
+24.30%
CURRENT VS 3Y AVG
-32.70%
CURRENT VS 5Y AVG
+13.76%
CURRENT VS 10Y AVG
-5.12%
CURRENT VS 15Y AVG
+10.49%
CURRENT VS 20Y AVG
+18.47%
PSX Competitors' Operating Margin
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Phillips 66 (PSX) | — | 2.66% | 2.14% | 3.95% | 2.34% |
| EOG Resources, Inc. (EOG) | $73.15B | 35.14% | 34.86% | 36.23% | 28.41% |
| Valero Energy Corporation (VLO) | $75.36B | 3.51% | 3.20% | 5.87% | 3.82% |
| Marathon Petroleum Corporation (MPC) | $75.36B | 4.35% | 4.06% | 6.83% | 2.22% |
| SLB N.V. (SLB) | $83.50B | 15.28% | 16.36% | 16.02% | 13.86% |
| Occidental Petroleum Corporation (OXY) | $56.25B | 17.24% | 19.63% | 24.70% | 17.59% |
| Antero Midstream Corporation (AM) | $10.10B | 51.20% | 53.61% | 54.17% | 43.65% |
| Helmerich & Payne, Inc. (HP) | $3.79B | 6.20% | 11.29% | 11.09% | -4.30% |
| ConocoPhillips (COP) | $142.28B | 19.58% | 21.49% | 25.61% | 19.93% |
| Chevron Corporation (CVX) | $371.97B | 9.04% | 12.04% | 14.55% | 10.20% |
Operating Efficiency
Gross Margin
4.9%
Operating Margin
2.7%
Phillips 66 Operating Margin Formula & Definition
Operating Margin = Operating Income / Revenue
Operating margin is the percentage of revenue remaining after operating expenses, reflecting operating efficiency.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
Phillips 66 Operating Margin FAQ
- What is the operating margin for Phillips 66 (PSX)?
- The operating margin for PSX stock is 2.66%.
- Is Phillips 66's operating margin high or low?
- Phillips 66's operating margin of 2.66% is 14% above its 5-year average of 2.34%, around the middle of its 5-year range (-2.87%–5.92%).
- What is the TTM average operating margin for Phillips 66 (PSX)?
- The TTM average operating margin for PSX stock is 2.14%.
- What is the 3Y average operating margin for Phillips 66 (PSX)?
- The 3Y average operating margin for PSX stock is 3.95%.
- What is the 5Y average operating margin for Phillips 66 (PSX)?
- The 5Y average operating margin for PSX stock is 2.34%.
- What is the 10Y average operating margin for Phillips 66 (PSX)?
- The 10Y average operating margin for PSX stock is 2.80%.
- What is the 15Y average operating margin for Phillips 66 (PSX)?
- The 15Y average operating margin for PSX stock is 2.41%.
- What is the 20Y average operating margin for Phillips 66 (PSX)?
- The 20Y average operating margin for PSX stock is 2.25%.
Phillips 66 Operating Margin History
| DATE | OPERATING MARGIN |
|---|---|
| 2025-12-31 | 2.66% |
| 2024-12-31 | 1.62% |
| 2023-12-31 | 5.61% |
| 2022-12-31 | 5.92% |
| 2021-12-31 | 1.09% |
| 2020-12-31 | -2.87% |
| 2019-12-31 | 3.00% |
| 2018-12-31 | 4.53% |
| 2017-12-31 | 2.25% |
| 2016-12-31 | 2.15% |
| 2015-12-31 | 4.88% |
| 2014-12-31 | 1.72% |
| 2013-12-31 | 1.56% |
| 2012-12-31 | 2.71% |
| 2011-12-31 | 0.93% |
| 2010-12-31 | 0.76% |
| 2009-12-31 | -0.35% |