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Phillips 66 vs BP: PSX and BP compared
Phillips 66 is the larger company: $50.5B of revenue in its latest quarter (Q3 2026) against $47.7B for BP (Q2 2025). Phillips 66 is growing faster (+46% against -1% a year earlier). Phillips 66 is more profitable, with an operating margin of 14.1% against 8.5%.
Where the money goes: PSX and BP
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) · Q2 2025
BP, Q2 2025: revenue $47.7B (-1% year over year), operating margin 8.5%, net earnings $1.6B, operating cash flow $6.3B. The chart follows the revenue to costs, profit and cash.
| Phillips 66 (PSX) | BP (BP) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2025 |
| Revenue | $50.5B | $47.7B |
| Revenue growth, Y/Y | +46% | -1% |
| Operating margin | 14.1% | 8.5% |
| Net earnings | $5.6B | $1.6B |
| Net margin | 11.2% | 3.4% |
| Operating cash flow | $7.3B | $6.3B |
| Free cash flow | $6.6B | — |
| Market value | $98.0B | $114.7B |
| P/E | 7.9× | 88.6× |
| Analysts’ mean target | $292.37 | $55.31 |
Where the revenue comes from
Phillips 66
- M&S: $32.0B (63%)
- Refining: $11.7B (23%)
- Midstream: $6.2B (12%)
- Renewable Fuels: $712M (1%)
Questions
Which is bigger, Phillips 66 or BP?
Phillips 66 is the larger company: $50.5B of revenue in its latest quarter (Q3 2026) against $47.7B for BP (Q2 2025).
Is Phillips 66 or BP growing faster?
Phillips 66 is growing faster (+46% against -1% a year earlier).
Which is more profitable, Phillips 66 or BP?
Phillips 66 is more profitable, with an operating margin of 14.1% against 8.5%.
More: Phillips 66 earnings · how Phillips 66 makes money · BP earnings · how BP makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 28, 2026; 6-K filed Aug 5, 2025). Fiscal quarters can end on different dates. Not investment advice.