Stock Analysis on Net

Phillips 66 (NYSE:PSX)

This company has been moved to the archive! The financial data has not been updated since February 21, 2020.

Enterprise Value to EBITDA (EV/EBITDA) 

Microsoft Excel

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Phillips 66, EBITDA calculation

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net income attributable to Phillips 66 3,076 5,595 5,106 1,555 4,227
Add: Net income attributable to noncontrolling interest 301 278 142 89 53
Add: Income tax expense 801 1,572 (1,693) 547 1,764
Earnings before tax (EBT) 4,178 7,445 3,555 2,191 6,044
Add: Interest and debt expense 458 504 438 338 310
Earnings before interest and tax (EBIT) 4,636 7,949 3,993 2,529 6,354
Add: Depreciation and amortization 1,341 1,356 1,318 1,168 1,078
Earnings before interest, tax, depreciation and amortization (EBITDA) 5,977 9,305 5,311 3,697 7,432

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).

Item Description The company
EBITDA To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. Phillips 66 EBITDA increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.

Enterprise Value to EBITDA Ratio, Current

Phillips 66, current EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Selected Financial Data (US$ in millions)
Enterprise value (EV) 51,629
Earnings before interest, tax, depreciation and amortization (EBITDA) 5,977
Valuation Ratio
EV/EBITDA 8.64
Benchmarks
EV/EBITDA, Competitors1
Chevron Corp. 6.37
ConocoPhillips 5.65
Exxon Mobil Corp. 7.40
Marathon Petroleum Corp. 3.94
Occidental Petroleum Corp. 5.14
Valero Energy Corp. 3.47
EV/EBITDA, Sector
Oil, Gas & Consumable Fuels 10.99
EV/EBITDA, Industry
Energy 12.32

Based on: 10-K (reporting date: 2019-12-31).

1 Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.


Enterprise Value to EBITDA Ratio, Historical

Phillips 66, historical EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Enterprise value (EV)1 51,629 54,931 55,363 49,493 48,895
Earnings before interest, tax, depreciation and amortization (EBITDA)2 5,977 9,305 5,311 3,697 7,432
Valuation Ratio
EV/EBITDA3 8.64 5.90 10.42 13.39 6.58
Benchmarks
EV/EBITDA, Competitors4
Chevron Corp. 6.39
ConocoPhillips 4.13
Exxon Mobil Corp. 6.91
Marathon Petroleum Corp. 7.23
Occidental Petroleum Corp. 10.32
Valero Energy Corp. 6.00
EV/EBITDA, Sector
Oil, Gas & Consumable Fuels 6.54
EV/EBITDA, Industry
Energy 7.51

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).

1 See details »

2 See details »

3 2019 Calculation
EV/EBITDA = EV ÷ EBITDA
= 51,629 ÷ 5,977 = 8.64

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/EBITDA Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. Phillips 66 EV/EBITDA ratio decreased from 2017 to 2018 but then increased from 2018 to 2019 not reaching 2017 level.