Phillips 66XSWX:PSX 68 ROC (Joel Greenblatt) % is 5.01% as of Mar. 2026, which is 71% below its 10-year median of 17.03. GuruFocus rates XSWX:PSX with a GF Score™ of 68/100 and a GF Value™ of CHF107.88. The stock has 7 warning signs investors should review. Among 999 Oil & Gas companies, Phillips 66 ranks better than 66.57% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Phillips 66's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 5.01%.
The historical rank and industry rank for Phillips 66's ROC (Joel Greenblatt) % or its related term are showing as below:
XSWX:PSX'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -17.28 Med: 17.03 Max: 52.45
Current: 14.83
During the past 13 years, Phillips 66's highest ROC (Joel Greenblatt) % was 52.45%. The lowest was -17.28%. And the median was 17.03%.
XSWX:PSX's ROC (Joel Greenblatt) % is ranked better than 66.57% of 999
companies
in the Oil & Gas industry
Industry Median: 8.41
vs XSWX:PSX: 14.83
Phillips 66's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Phillips 66 ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Phillips 66's ROC (Joel Greenblatt) % 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: ROC (Joel Greenblatt) % Comparison
For the Oil & Gas Refining & Marketing subindustry, Phillips 66's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Phillips 66's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Phillips 66's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 5.01% mean?
Phillips 66 (XSWX:PSX) has a ROC (Joel Greenblatt) % of 5.01% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Phillips 66 and its competitors. This is 71% below median its historical median of 17.03. According to the industry distribution chart, Phillips 66 ranks #334 out of 999 companies in the Oil & Gas industry, placing it in the top 33.4%.
Is Phillips 66's ROC (Joel Greenblatt) % too high?
Phillips 66's current ROC (Joel Greenblatt) % of 5.01% is 71% below median its 10-year median of 17.03. The Oil & Gas industry median ROC (Joel Greenblatt) % is 8.41. Phillips 66's value of 5.01% is 40.4% below this industry median. Based on the distribution chart, Phillips 66 ranks #334 out of 999 companies in the Oil & Gas industry, which is above 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 ROC (Joel Greenblatt) % compare to MPC and VLO?
According to the Oil & Gas industry distribution chart, Phillips 66 ranks #334 out of 999 companies for ROC (Joel Greenblatt) %. This puts Phillips 66 in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 8.41. Phillips 66's value of 5.01% is 40.4% below this benchmark. While the company's 10-year median is 17.03 vs. the industry median of 8.41, 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 ROC (Joel Greenblatt) % for an Oil & Gas company?
The median ROC (Joel Greenblatt) % among Oil & Gas companies is 8.41, based on 999 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Phillips 66's current ROC (Joel Greenblatt) % of 5.01% is 40.4% 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Phillips 66 and its competitors. For the Oil & Gas industry, the median ROC (Joel Greenblatt) % is 8.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Phillips 66's current ROC (Joel Greenblatt) % is 5.01%, which is 71% below median its own 10-year median of 17.03. 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 ROC (Joel Greenblatt) % of 5.01%. The stock's GF Value™ is CHF107.88, compared to a current price of CHF140.92 — trading 30.6% above its estimated fair value. The current ROC (Joel Greenblatt) % is 5.01%, which is 71% below median its 10-year median of 17.03 and 40.4% below the Oil & Gas industry median of 8.41. Phillips 66's overall GF Score™ is 68/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Phillips 66 (XSWX:PSX), the current ROC (Joel Greenblatt) % is 5.01% 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 CHF140.92 is trading 30.6% above its estimated GF Value™ of CHF107.88.
Key valuation signals for XSWX:PSX:
ROC (Joel Greenblatt) %: 5.01% (71% below median its 10-year median of 17.03)
GF Value™: CHF107.88 vs. price of CHF140.92 (30.6% above fair value)
Industry Position: 40.4% below the Oil & Gas median (#334 of 999)
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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