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Intrinsic value of Phillips 66 (PSX)

Previous Close$93.79
Intrinsic Value
Upside potential
Previous Close
$93.79
Use floor (the cash flow based valuation has rendered a result, which is lower than an estimated minimum value derived from the company’s balance sheet analysis)

VALUATION INPUT DATA

Revenue, mln $
Initial revenue growth rate (norm.), %
Variable cost ratio, %
Fixed operating expenses, mln $
Production assets / Revenue, %
Working capital / Revenue, %
Interest rate on debt, %
Initial discount rate, %
Shares outstanding, mln
Adjusted equity ratio
Adjusted assets / Revenue
Cash & ST Investments
Total debt
Market cap, m$
41,108

Based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %75.8NaN
Revenue, $111944NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m112526NaN
Operating income, $m-582NaN
EBITDA, $m1047NaN
Interest expense (income), $mNaN
Earnings before tax, $m1452NaN
Tax expense, $m146NaN
Net income, $m1306NaN

BALANCE SHEET

Cash and short-term investments, $m3147NaN
Total assets, $m55594NaN
Adjusted assets (=assets-cash), $m52447NaN
Average production assets, $m26489NaN
Working capital, $m1896NaN
Total debt, $m15516NaN
Total liabilities, $m36428NaN
Total equity, $m19166NaN
Debt-to-equity ratio0.810NaN
Adjusted equity ratio0.340NaN

CASH FLOW

Net income, $m1306NaN
Depreciation, amort., depletion, $m1629NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m6017NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-1860NaN
Free cash flow, $m7877NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m1896
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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