Phillips 66 (PSX) — Capital Reinvestment Ratio
Latest as of December 2025:
0.25x
Phillips 66 (PSX) has a Capital Reinvestment Ratio of 0.25x as of December 2025, meaning it reinvests 0% of its operating cash flow ($2.75 Billion) in capital expenditures ($682.00 Million). See Phillips 66 free cash flow ratio to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
0.25x
Capex / Operating Cash Flow
Operating Cash Flow
$2.75 Billion
USD
Capital Expenditures
$682.00 Million
USD
Data as of
Dec 2025
Most recent filing
Phillips 66 Capital Reinvestment Ratio (2009–2025)
This chart tracks Phillips 66's Capital Reinvestment Ratio across 17 annual periods.
Annual Capital Reinvestment Ratio for Phillips 66 (2009–2025)
Year-by-year Capital Reinvestment Ratio for Phillips 66 from 2009 to 2025. For live market cap and broader valuation context, see market value of Phillips 66.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.45x | $4.96 Billion | $2.23 Billion | ▲ +1.5% |
| 2024 | 0.44x | $4.19 Billion | $1.86 Billion | ▲ +28.9% |
| 2023 | 0.34x | $7.03 Billion | $2.42 Billion | ▲ +69.5% |
| 2022 | 0.20x | $10.81 Billion | $2.19 Billion | ▼ -34.4% |
| 2021 | 0.31x | $6.02 Billion | $1.86 Billion | ▼ -77.7% |
| 2020 | 1.38x | $2.11 Billion | $2.92 Billion | ▲ +71.7% |
| 2019 | 0.81x | $4.81 Billion | $3.87 Billion | ▲ +131.2% |
| 2018 | 0.35x | $7.57 Billion | $2.64 Billion | ▼ -30.6% |
| 2017 | 0.50x | $3.65 Billion | $1.83 Billion | ▼ -47.7% |
| 2016 | 0.96x | $2.96 Billion | $2.84 Billion | ▼ -4.9% |
| 2015 | 1.01x | $5.71 Billion | $5.76 Billion | ▼ -5.6% |
| 2014 | 1.07x | $3.53 Billion | $3.77 Billion | ▲ +262.2% |
| 2013 | 0.30x | $6.03 Billion | $1.78 Billion | ▼ -26.3% |
| 2012 | 0.40x | $4.30 Billion | $1.72 Billion | ▲ +96.2% |
| 2011 | 0.20x | $5.01 Billion | $1.02 Billion | ▼ -62.9% |
| 2010 | 0.55x | $2.09 Billion | $1.15 Billion | ▼ -78.9% |
| 2009 | 2.60x | $946.00 Million | $2.46 Billion | — |
Capital Reinvestment Ratio = ABS(Capital Expenditures) / Operating Cash Flow