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Phillips 66 (PSX) FY2022 results: revenue $170.0 billion, up 52.5% on the year

Phillips 66 (PSX) reported revenue of $170.0 billion for fiscal 2022, the year ended 31 December 2022, up 52.5% on the year before. Net income was $11.0 billion, up 737.1%, and diluted earnings per share $23.27. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2023.

Revenue
$170.0 billion
+52.5% on the year
FY2015FY2022
Operating margin
n/a
FY2015FY2022
Net income
$11.0 billion
+737.1% on the year
FY2015FY2022
Diluted EPS
$23.27
+683.5% on the year
FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ millionFY2022FY2021FY2020On the yearLast 8 years
Revenue169,990111,47664,129+52.5%
Cost of revenue149,932102,10257,707+46.8%
Gross profit20,0589,3746,422+114.0%
Gross margin11.8%8.4%10.0%
Research and development42.047.048.0-10.6%
Selling, general and administrative2,1681,7441,544+24.3%
Interest expense611567550+7.8%
Pre-tax incomen/an/a-4,964
Income tax3,248146-1,250+2,124.7%
Net income11,0241,317-3,975+737.1%
Net margin6.5%1.2%-6.2%
Diluted EPS$23.27$2.97-$9.06+683.5%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2022FY2021FY2020On the yearLast 8 years
Operating cash flow10,8136,0172,111+79.7%
Cash from investing-1,488-1,872-3,079
Cash from financing-6,388-3,4701,791
Depreciation and amortisation1,6291,6051,395+1.5%
Share-based compensation210144127+45.8%
Buybacks1,5130.0443
Dividends paid1,7931,5851,575+13.1%
Dividend per share$3.83$3.62$3.60+5.8%
Diluted shares, weighted474m440m440m+7.6%

Balance sheet

$ millionFY2022FY2021FY2020On the yearLast 8 years
Shareholders' equity29,49419,16618,984+53.9%
Non-controlling interest4,6122,4712,539+86.6%
Debt17,15814,25115,716+20.4%
Operating lease liabilities745725853+2.8%
Finance lease liabilities234257248-8.9%
Other liabilities24,19918,72416,381+29.2%
Total liabilities and equity76,44255,59454,721+37.5%
Goodwill1,4861,4841,425+0.1%
Intangible assets831813843+2.2%
Cash and equivalents6,1333,1472,514+94.9%
Receivables10,9857,4706,522+47.1%
Inventory3,2763,3943,893-3.5%
Other assets53,73139,28639,524+36.8%
Total assets76,44255,59454,721+37.5%

10-K for the year ended 31 December 2022, filed 22 February 2023: the filing.