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BP vs Phillips 66: BP and PSX compared
BP is the larger company: $68.4B of revenue in its latest quarter (Q3 2026) against $50.5B for Phillips 66 (Q3 2026). Phillips 66 is growing faster (+46% against +41% a year earlier). Phillips 66 is more profitable, with an operating margin of 14.1% against 12.6%.
Where the money goes: BP and PSX
BP (BP) · Q3 2026
BP, Q3 2026: revenue $68.4B (+41% year over year), operating margin 12.6%, net earnings $4.7B. The chart follows the revenue to costs, profit and cash.
Phillips 66 (PSX) · Q3 2026
Phillips 66, Q3 2026: revenue $50.5B (+46% year over year), operating margin 14.1%, net earnings $5.6B, operating cash flow $7.3B. The chart follows the revenue to costs, profit and cash.
| BP (BP) | Phillips 66 (PSX) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $68.4B | $50.5B |
| Revenue growth, Y/Y | +41% | +46% |
| Operating margin | 12.6% | 14.1% |
| Net earnings | $4.7B | $5.6B |
| Net margin | 6.9% | 11.2% |
| Operating cash flow | — | $7.3B |
| Free cash flow | — | $6.6B |
| Market value | — | $98.0B |
| P/E | — | 7.9× |
| Analysts’ mean target | — | $292.37 |
Where the revenue comes from
BP
- Oil products: $42.4B (62%)
- Other operating revenues: $11.1B (16%)
- Natural gas, LNG and NGLs: $10.7B (16%)
- Non-oil products and other revenues from contracts with customers: $3.9B (6%)
Phillips 66
- M&S: $32.0B (63%)
- Refining: $11.7B (23%)
- Midstream: $6.2B (12%)
- Renewable Fuels: $712M (1%)
Questions
Which is bigger, BP or Phillips 66?
BP is the larger company: $68.4B of revenue in its latest quarter (Q3 2026) against $50.5B for Phillips 66 (Q3 2026).
Is BP or Phillips 66 growing faster?
Phillips 66 is growing faster (+46% against +41% a year earlier).
Which is more profitable, BP or Phillips 66?
Phillips 66 is more profitable, with an operating margin of 14.1% against 12.6%.
More: BP earnings · how BP makes money · Phillips 66 earnings · how Phillips 66 makes money
From the companies' latest 10-Q, 10-K or earnings release (6-K filed Oct 30, 2026; 10-Q filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.