Capital Expenditures for Phillips 66 (PSX)
According to Phillips 66's latest reported financial statements, the company's current capital expenditures (TTM) is $2.23B USD. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
PSX
Currently viewingCapital ExpendituresSwitch metric
Latest period
$2.23B
YoY change
+20.1%
5Y CAGR
-5.2%
Peak year (2015)
$5.76B
Cumulative capital expenditures
$42.34B
CapEx history chart for Phillips 66 (PSX) from 2009 to 2025
CapEx history table for Phillips 66 (PSX) from 2009 to 2025
| Fiscal year | Period ended | Reported | Capital Expenditures | YoY |
|---|---|---|---|---|
| 2025 | $2.23B | +20.1% | ||
| 2024 | $1.86B | -23.1% | ||
| 2023 | $2.42B | +10.2% | ||
| 2022 | $2.19B | +18.0% | ||
| 2021 | $1.86B | -36.3% | ||
| 2020 | $2.92B | -24.6% | ||
| 2019 | $3.87B | +46.8% | ||
| 2018 | $2.64B | +44.1% | ||
| 2017 | $1.83B | -35.6% | ||
| 2016 | $2.84B | -50.7% | ||
| 2015 | $5.76B | +52.8% | ||
| 2014 | $3.77B | +112.1% | ||
| 2013 | $1.78B | +3.4% | ||
| 2012 | $1.72B | +68.4% | ||
| 2011 | $1.02B | -11.1% | ||
| 2010 | $1.15B | -53.3% | ||
| 2009 | $2.46B | — |
CapEx values are taken from Phillips 66's reported cash flow statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
In 2025, Phillips 66 (PSX) capital expenditures totalled $2.23B – grew 20.1% year-over-year.
Over 2020–2025 (5 years), Phillips 66 capital expenditures expanded at a -5.2% compound annual rate, with a net decline across the window.
Phillips 66 capital expenditures plunged from $5.76B in 2015 to $2.23B in 2025, a 61.3% drawdown.
2015 marks the peak capital expenditures at $5.76B, with the historical low of $1.02B recorded in 2011.
Among 8 Energy peers, Phillips 66 (PSX) ranks 7th; the peer median for capital expenditures is $5.50B.
Phillips 66 Capital Expenditures by Year
Phillips 66 Capital Expenditures 2025: $2.23B
Phillips 66 capital expenditures in 2025 was $2.23B, grew 20.1% from 2024.
Phillips 66 Capital Expenditures 2024: $1.86B
Phillips 66 capital expenditures in 2024 was $1.86B, declined 23.1% below 2023.
Phillips 66 Capital Expenditures 2023: $2.42B
Phillips 66 capital expenditures in 2023 was $2.42B, grew 10.2% from 2022.
Phillips 66 Capital Expenditures 2022: $2.19B
Phillips 66 capital expenditures in 2022 was $2.19B, grew 18.0% from 2021.
Phillips 66 Capital Expenditures 2021: $1.86B
Phillips 66 capital expenditures in 2021 was $1.86B.
See more financial history for Phillips 66 (PSX).
Sector peers — CapEx
Companies in the same sector as Phillips 66, ranked by their latest capital expenditures.
| Company | Capital Expenditures | Sector |
|---|---|---|
| Exxon Mobil Corporation (XOM) | $28.36B | Energy |
| Chevron Corporation (CVX) | $17.35B | Energy |
| Enbridge Inc. (ENB) | $8.97B | Energy |
| EOG Resources, Inc. (EOG) | $6.12B | Energy |
| The Williams Companies, Inc. (WMB) | $4.89B | Energy |
| ConocoPhillips (COP) | $3.02B | Energy |
| SLB N.V. (SLB) | $1.69B | Energy |
| Valero Energy Corporation (VLO) | $796.00M | Energy |
Frequently asked questions
What is Phillips 66's capital expenditures?
- Latest reported capital expenditures for Phillips 66 (PSX) is $2.23B (period ending December 31, 2025).
How has Phillips 66 capital expenditures changed year-over-year?
- Phillips 66 (PSX) capital expenditures changed +20.1% year-over-year on the latest annual filing.
What is the long-term growth rate of Phillips 66 capital expenditures?
- Phillips 66 (PSX) capital expenditures compound annual growth rate is -5.2% over the most recent 5 years available.
When did Phillips 66 capital expenditures hit its highest annual value?
- Phillips 66 capital expenditures reached its highest annual value of $5.76B in 2015.
What was Phillips 66 capital expenditures in 2024?
- Phillips 66 (PSX) capital expenditures in 2024 was $1.86B.
What was Phillips 66 capital expenditures in 2025?
- Phillips 66 (PSX) capital expenditures in 2025 was $2.23B.
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