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Cash to Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. Phillips 66's cash to debt ratio for the quarter that ended in Jun. 2026 was 0.20.
If Cash to Debt ratio is less than 1, the company cannot pay off its debt using the cash in hand. Here we can see, Phillips 66couldn't pay off its debt using the cash in hand for the quarter that ended in Jun. 2026.
The historical rank and industry rank for Phillips 66's Cash-to-Debt or its related term are showing as below:
XSWX:PSX'
s Cash-to-Debt Range Over the Past 10 Years
Min: 0.05 Med: 0.16 Max: 0.38
Current: 0.2
During the past 13 years, Phillips 66's highest Cash to Debt Ratio was 0.38. The lowest was 0.05. And the median was 0.16.
XSWX:PSX's Cash-to-Debt is ranked worse than 69.07% of 983
companies
in the Oil & Gas industry
Industry Median: 0.54
vs XSWX:PSX: 0.20
If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. If it is smaller than 1, it means the company has more debt than the cash in hands. In this case, it is important to look the the company's Interest Coverage. Ben Graham requires that a company must have an Interest Coverage of at least 5.
Phillips 66 Cash-to-Debt Related Terms
Phillips 66 Cash-to-Debt Historical Data
* Premium members only.
The historical data trend for Phillips 66's Cash-to-Debt can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Note: An indication of "No Debt" does not necessarily mean that the company has no debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.
XSWX:PSX vs VLO, MPC, DINO: Cash-to-Debt Comparison
For the Oil & Gas Refining & Marketing subindustry, Phillips 66's Cash-to-Debt, along with its competitors' market caps and Cash-to-Debt data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Phillips 66 Cash-to-Debt vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Phillips 66's Cash-to-Debt distribution charts can be found below:
* The bar in red indicates where Phillips 66's Cash-to-Debt falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Phillips 66 (XSWX:PSX) has a Cash-to-Debt of 0.20 as of Jun. 2026. This is 25% above median its historical median of 0.16. Over the past decade, Phillips 66's Cash-to-Debt has ranged from 0.05 to 0.38. According to the industry distribution chart, Phillips 66 ranks #679 out of 983 companies in the Oil & Gas industry, placing it in the top 69.1%.
Is Phillips 66's Cash-to-Debt too high?
Phillips 66's current Cash-to-Debt of 0.20 is 25% above median its 10-year median of 0.16. Over the past 10 years, this metric has ranged from a low of 0.05 to a high of 0.38. The Oil & Gas industry median Cash-to-Debt is 0.54. Phillips 66's value of 0.20 is 63% below this industry median. Based on the distribution chart, Phillips 66 ranks #679 out of 983 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Phillips 66 has a GF Score™ of 61/100, reflecting its overall financial health beyond just this single metric.
How does Phillips 66's Cash-to-Debt compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, Phillips 66 ranks #679 out of 983 companies for Cash-to-Debt. This places Phillips 66 in the lower half of its industry. The industry median Cash-to-Debt is 0.54. Phillips 66's value of 0.20 is 63% below this benchmark. Historically, Phillips 66's own Cash-to-Debt has ranged from 0.05 to 0.38 over the past decade. While the company's 10-year median is 0.16 vs. the industry median of 0.54, Phillips 66 has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash-to-Debt for an Oil & Gas company?
The median Cash-to-Debt among Oil & Gas companies is 0.54, based on 983 companies in the industry. Companies in the top quartile (top 25%) have a Cash-to-Debt significantly above this median, while those in the bottom quartile fall well below. However, Cash-to-Debt should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Phillips 66's current Cash-to-Debt of 0.20 is 63% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash-to-Debt mean?
A high Cash-to-Debt can signal that a stock is expensive relative to its fundamentals. For the Oil & Gas industry, the median Cash-to-Debt is 0.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Phillips 66's current Cash-to-Debt is 0.20, which is 25% above median its own 10-year median of 0.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Phillips 66 stock overvalued right now?
Phillips 66 (XSWX:PSX) has a current Cash-to-Debt of 0.20. The stock's GF Value™ is CHF123.92, compared to a current price of CHF195.04 — trading 57.4% above its estimated fair value. The current Cash-to-Debt is 0.20, which is 25% above median its 10-year median of 0.16 and 63% below the Oil & Gas industry median of 0.54. Phillips 66's overall GF Score™ is 61/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash-to-Debt calculated?
Cash-to-Debt is calculated from a company's financial statements. For Phillips 66 (XSWX:PSX), the current Cash-to-Debt is 0.20 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Phillips 66 (XSWX:PSX) Overvalued in 2026?
Based on GuruFocus' analysis, Phillips 66 stock appears to be overvalued.
The current stock price of CHF195.04 is trading 57.4% above its estimated GF Value™ of CHF123.92.
Key valuation signals for XSWX:PSX:
Cash-to-Debt: 0.20 (25% above median its 10-year median of 0.16)
GF Value™: CHF123.92 vs. price of CHF195.04 (57.4% above fair value)
Industry Position: 63% below the Oil & Gas median (#679 of 983)
No single metric tells the full story. See the XSWX:PSX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Phillips 66 is an independent refiner that owns or holds interest in 10 refineries with a total crude throughput capacity of 2.0 million barrels per day, or mmb/d, at the end of 2025. The midstream segment comprises extensive transportation and NGL processing assets. It includes 70,000 miles of crude oil, refined petroleum product, NGL and natural gas pipeline systems, and a comprehensive set of refined petroleum product, NGL and crude oil terminals, gathering and processing plants and fractionation facilities and various other storage and loading facilities. Its CPChem chemical joint venture operates facilities primarily in the United States and the Middle East and produces olefins and polyolefins.
61GF Score
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