Financials Phillips 66 Deutsche Boerse AG

Equities

R66

US7185461040

Oil & Gas Refining and Marketing

Market Closed - Deutsche Boerse AG Other stock markets 15:55:01 2024-06-25 EDT			5-day change	1st Jan Change
130.8 ^EUR	+1.39%		+2.22%	+9.95%

06-25	Raymond James Adjusts Price Target on Phillips 66 to $157 From $160	MT
06-24	Jefferies Adjusts Price Target on Phillips 66 to $137 From $156	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	49,506	30,550	31,752	49,192	58,576	58,739	-	-
Enterprise Value (EV) ¹	59,655	43,929	43,053	60,249	74,612	76,530	75,205	73,920
P/E ratio	16.5 x	-7.72 x	24.4 x	4.47 x	8.6 x	12.1 x	10.6 x	9.01 x
Yield	3.14%	5.15%	5.02%	3.68%	3.15%	3.21%	3.34%	3.43%
Capitalization / Revenue	0.45 x	0.47 x	0.28 x	0.28 x	0.39 x	0.41 x	0.43 x	0.43 x
EV / Revenue	0.54 x	0.67 x	0.37 x	0.34 x	0.5 x	0.54 x	0.55 x	0.54 x
EV / EBITDA	7.87 x	24 x	6.84 x	3.99 x	5.89 x	8.23 x	7.41 x	7.41 x
EV / FCF	63.8 x	-53.6 x	10.4 x	6.99 x	16.2 x	17.6 x	14.3 x	13.5 x
FCF Yield	1.57%	-1.87%	9.66%	14.3%	6.18%	5.68%	7%	7.42%
Price to Book	1.97 x	1.61 x	1.66 x	1.64 x	1.86 x	1.91 x	1.74 x	1.55 x
Nbr of stocks (in thousands)	444,358	436,800	438,202	472,632	439,956	423,952	-	-
Reference price ²	111.4	69.94	72.46	104.1	133.1	138.6	138.6	138.6
Announcement Date	1/31/20	1/29/21	1/28/22	1/31/23	1/31/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	109,559	65,494	114,852	175,702	149,890	142,709	137,129	135,718
EBITDA ¹	7,582	1,834	6,291	15,090	12,672	9,304	10,143	9,980
EBIT ¹	4,636	-4,465	2,321	15,258	10,366	7,114	8,046	7,909
Operating Margin	4.23%	-6.82%	2.02%	8.68%	6.92%	4.98%	5.87%	5.83%
Earnings before Tax (EBT) ¹	4,178	-4,964	1,740	14,639	9,469	5,990	7,071	7,202
Net income ¹	3,076	-3,975	1,317	11,024	7,015	4,634	5,277	6,065
Net margin	2.81%	-6.07%	1.15%	6.27%	4.68%	3.25%	3.85%	4.47%
EPS ²	6.770	-9.060	2.970	23.27	15.48	11.46	13.07	15.38
Free Cash Flow ¹	935	-820	4,157	8,619	4,611	4,349	5,265	5,484
FCF margin	0.85%	-1.25%	3.62%	4.91%	3.08%	3.05%	3.84%	4.04%
FCF Conversion (EBITDA)	12.33%	-	66.08%	57.12%	36.39%	46.74%	51.91%	54.95%
FCF Conversion (Net income)	30.4%	-	315.64%	78.18%	65.73%	93.85%	99.77%	90.42%
Dividend per Share ²	3.500	3.600	3.640	3.830	4.200	4.454	4.628	4.754
Announcement Date	1/31/20	1/29/21	1/28/22	1/31/23	1/31/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	33,568	36,722	49,309	48,764	40,907	35,089	35,740	40,322	38,739	36,436	35,874	35,585	34,974	35,377	35,907
EBITDA ¹	2,445	1,664	5,228	4,870	3,328	3,287	3,085	3,606	2,694	1,943	2,293	2,651	2,248	2,332	2,892
EBIT ¹	1,768	963	4,239	7,316	2,745	2,843	2,510	3,034	1,979	1,191	1,798	2,220	1,795	1,850	2,222
Operating Margin	5.27%	2.62%	8.6%	15%	6.71%	8.1%	7.02%	7.52%	5.11%	3.27%	5.01%	6.24%	5.13%	5.23%	6.19%
Earnings before Tax (EBT) ¹	1,627	828	4,106	7,158	2,547	2,651	2,244	2,813	1,761	964	1,599	1,775	1,380	1,470	2,195
Net income ¹	1,273	582	3,167	5,391	1,884	1,961	1,697	2,097	1,260	748	1,220	1,408	1,049	1,281	1,623
Net margin	3.79%	1.58%	6.42%	11.06%	4.61%	5.59%	4.75%	5.2%	3.25%	2.05%	3.4%	3.96%	3%	3.62%	4.52%
EPS ²	2.880	1.290	6.530	11.16	3.970	4.200	3.720	4.690	2.860	1.730	2.855	3.330	2.508	3.040	3.895
Dividend per Share ²	0.9200	0.9200	0.9700	0.9700	0.9700	1.050	1.050	1.050	1.050	1.050	1.130	1.142	1.142	1.167	1.173
Announcement Date	1/28/22	4/29/22	7/29/22	11/1/22	1/31/23	5/3/23	8/2/23	10/27/23	1/31/24	4/26/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	10,149	13,379	11,301	11,057	16,036	17,792	16,467	15,181
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.339 x	7.295 x	1.796 x	0.7327 x	1.265 x	1.912 x	1.623 x	1.521 x
Free Cash Flow ¹	935	-820	4,157	8,619	4,611	4,349	5,265	5,484
ROE (net income / shareholders' equity)	14.8%	-1.74%	13.2%	36.6%	23.8%	16.5%	18.7%	17%
ROA (Net income/ Total Assets)	6.47%	-0.67%	4.57%	13.5%	9.23%	6.73%	8.28%	-
Assets ¹	47,533	590,200	28,815	81,764	75,972	68,852	63,705	-
Book Value Per Share ²	56.50	43.50	43.80	63.30	71.50	72.40	79.80	89.20
Cash Flow per Share ²	12.40	5.540	8.850	22.70	19.50	16.20	18.30	20.30
Capex ¹	3,873	2,920	1,860	2,194	2,418	2,185	2,085	2,110
Capex / Sales	3.54%	4.46%	1.62%	1.25%	1.61%	1.53%	1.52%	1.55%
Announcement Date	1/31/20	1/29/21	1/28/22	1/31/23	1/31/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Phillips 66

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

140.2 USD

Average target price

157.7 USD

Spread / Average Target

+12.43%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Other Oil & Gas Refining and Marketing