Phillips 66 (PSX) — Capital Reinvestment Ratio
Phillips 66 (PSX) has a Capital Reinvestment Ratio of 0.10x as of June 2026, meaning it reinvests 0% of its operating cash flow ($7.26 Billion) in capital expenditures ($726.00 Million). Check how tangible is Phillips 66's equity to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Phillips 66 Capital Reinvestment Ratio (2009–2025)
This chart tracks Phillips 66's Capital Reinvestment Ratio across 17 annual periods. For the full cash flow conversion analysis, see Phillips 66 (PSX) cash flow conversion.
Annual Capital Reinvestment Ratio for Phillips 66 (2009–2025)
Year-by-year Capital Reinvestment Ratio for Phillips 66 from 2009 to 2025. See how much free cash does Phillips 66 generate to measure how efficiently the company converts operating cash flow to free cash.
| 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 | — |