Phillips 66 (PSX) — Capital Reinvestment Ratio
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 PSX net asset quality index to measure how much of total assets are equity-financed.
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. Check total reinvestment intensity of Phillips 66 to assess the company's total reinvestment commitment from operating cash flow.
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 Phillips 66 stock valuation.
| 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 | — |