Phillips 66XSWX:PSX 68 Debt-to-EBITDA is 6.08 as of Mar. 2026, which is 215% above its 10-year median of 1.93. GuruFocus rates XSWX:PSX with a GF Score™ of 68/100 and a GF Value™ of CHF109.65. The stock has 8 warning signs investors should review. Among 704 Oil & Gas companies, Phillips 66 ranks worse than 63.21% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Phillips 66's Debt-to-EBITDA or its related term are showing as below:
XSWX:PSX'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -5.21 Med: 1.93 Max: 3.66
Current: 2.95
During the past 13 years, the highest Debt-to-EBITDA Ratio of Phillips 66 was 3.66. The lowest was -5.21. And the median was 1.93.
XSWX:PSX's Debt-to-EBITDA is ranked worse than 63.21% of 704
companies
in the Oil & Gas industry
Industry Median: 2.015
vs XSWX:PSX: 2.95
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Phillips 66 Debt-to-EBITDA Related Terms
Phillips 66 Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Phillips 66's Debt-to-EBITDA 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.
XSWX:PSX vs MPC, VLO, SUN: Debt-to-EBITDA Comparison
For the Oil & Gas Refining & Marketing subindustry, Phillips 66's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA 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 Debt-to-EBITDA vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Phillips 66's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Phillips 66's Debt-to-EBITDA 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.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
Phillips 66 (XSWX:PSX) has a Debt-to-EBITDA of 6.08 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Phillips 66. This is 215% above median its historical median of 1.93. According to the industry distribution chart, Phillips 66 ranks #445 out of 704 companies in the Oil & Gas industry, placing it in the top 63.2%.
Is Phillips 66's Debt-to-EBITDA too high?
Phillips 66's current Debt-to-EBITDA of 6.08 is 215% above median its 10-year median of 1.93. The Oil & Gas industry median Debt-to-EBITDA is 2.02. Phillips 66's value of 6.08 is 201.7% above this industry median. Based on the distribution chart, Phillips 66 ranks #445 out of 704 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Phillips 66 has a GF Score™ of 68/100, reflecting its overall financial health beyond just this single metric.
How does Phillips 66's Debt-to-EBITDA compare to MPC and VLO?
According to the Oil & Gas industry distribution chart, Phillips 66 ranks #445 out of 704 companies for Debt-to-EBITDA. This places Phillips 66 in the lower half of its industry. The industry median Debt-to-EBITDA is 2.02. Phillips 66's value of 6.08 is 201.7% above this benchmark. While the company's 10-year median is 1.93 vs. the industry median of 2.02, Phillips 66 has consistently been above 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 Debt-to-EBITDA for an Oil & Gas company?
The median Debt-to-EBITDA among Oil & Gas companies is 2.02, based on 704 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Phillips 66's current Debt-to-EBITDA of 6.08 is 201.7% above 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 Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Phillips 66. For the Oil & Gas industry, the median Debt-to-EBITDA is 2.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Phillips 66's current Debt-to-EBITDA is 6.08, which is 215% above median its own 10-year median of 1.93. 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 Debt-to-EBITDA of 6.08. The stock's GF Value™ is CHF109.65, compared to a current price of CHF151.62 — trading 38.3% above its estimated fair value. The current Debt-to-EBITDA is 6.08, which is 215% above median its 10-year median of 1.93 and 201.7% above the Oil & Gas industry median of 2.02. Phillips 66's overall GF Score™ is 68/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Phillips 66 (XSWX:PSX), the current Debt-to-EBITDA is 6.08 as of Mar. 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 CHF151.62 is trading 38.3% above its estimated GF Value™ of CHF109.65.
Key valuation signals for XSWX:PSX:
Debt-to-EBITDA: 6.08 (215% above median its 10-year median of 1.93)
GF Value™: CHF109.65 vs. price of CHF151.62 (38.3% above fair value)
Industry Position: 201.7% above the Oil & Gas median (#445 of 704)
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.
68GF Score
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