Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Liabilities-to-Assets is a solvency ratio indicating how much of the company’s assets are made of liabilities, calculated as total liabilities divided by total asset. Phillips 66's Total Liabilities for the quarter that ended in Jun. 2026 was $49,107 Mil. Phillips 66's Total Assets for the quarter that ended in Jun. 2026 was $81,810 Mil.
Therefore, Phillips 66's Liabilities-to-Assets Ratio for the quarter that ended in Jun. 2026 was 0.60.
Liabilities-to-Assets is a solvency ratio indicating how much of the company’s assets are made of liabilities. It can vary greatly across different industries, as they have different capital structure. A high Liabilities-to-Assets ratio (more leveraged) suggests that the company might have potential solvency problems, or even a signal of financial distress. Conversely, a low Liabilities-to-Assets ratio usually indicates a healthy financial situation. However, it may also suggest that the company is not expanding or not making good use of debt.
Phillips 66 Liabilities-to-Assets Related Terms
Phillips 66 Liabilities-to-Assets Historical Data
* Premium members only.
The historical data trend for Phillips 66's Liabilities-to-Assets 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.
PSX vs VLO, MPC, DINO: Liabilities-to-Assets Comparison
For the Oil & Gas Refining & Marketing subindustry, Phillips 66's Liabilities-to-Assets, along with its competitors' market caps and Liabilities-to-Assets 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 Liabilities-to-Assets vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Phillips 66's Liabilities-to-Assets distribution charts can be found below:
* The bar in red indicates where Phillips 66's Liabilities-to-Assets falls into.
Liabilities-to-Assets ratio measures the portion of the total liabilities to the total asset. It indicates the leverage of the company, and the amount of debt the company uses in its operation.
Liabilities-to-Assets ratio is calculated by dividing total liabilities by total asset.
Phillips 66's Liabilities-to-Assets Ratio for the fiscal year that ended in Dec. 2025 is calculated as:
* 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 (PSX) has a Liabilities-to-Assets of 0.60 as of Jun. 2026. Liabilities-to-Assets equals total liabilities divided by total assets. It measures financial leverage. View historical data on Phillips 66 and its competitors.
Is Phillips 66's Liabilities-to-Assets too high?
Phillips 66's current Liabilities-to-Assets is 0.60. Overall, Phillips 66 has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Phillips 66's Liabilities-to-Assets compare to VLO and MPC?
Phillips 66's Liabilities-to-Assets of 0.60 can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Liabilities-to-Assets for an Oil & Gas company?
A good Liabilities-to-Assets depends on the Oil & Gas industry context. However, Liabilities-to-Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Liabilities-to-Assets mean?
A high Liabilities-to-Assets can signal that a stock is expensive relative to its fundamentals. Liabilities-to-Assets equals total liabilities divided by total assets. It measures financial leverage. View historical data on Phillips 66 and its competitors. Phillips 66's current Liabilities-to-Assets is 0.60. 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?
Based on GuruFocus' analysis, Phillips 66 (PSX) is currently considered Significantly Overvalued. The stock's GF Value™ is $151.75, compared to a current price of $205.65 — trading 35.5% above its estimated fair value. The current Liabilities-to-Assets is 0.60. Phillips 66's overall GF Score™ is 69/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Liabilities-to-Assets calculated?
Liabilities-to-Assets is calculated from a company's financial statements. For Phillips 66 (PSX), the current Liabilities-to-Assets is 0.60 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 (PSX) Overvalued in 2026?
Based on GuruFocus' analysis, Phillips 66 stock appears to be overvalued.
The current stock price of $205.65 is trading 35.5% above its estimated GF Value™ of $151.75.
GuruFocus considers Phillips 66 to be Significantly Overvalued.
Key valuation signals for PSX:
Liabilities-to-Assets: 0.60
GF Value™: $151.75 vs. price of $205.65 (35.5% above fair value)
No single metric tells the full story. See the 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.
69GF Score
Get the complete analysis for PSX
Liabilities-to-Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
PSX has been successfully added to your 
