Phillips 66


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SKU: PSX-1 Category:


Phillips 66: Is The Demand Recovery In The Refining Macro Enough To Warrant A Bullish Thesis?


Phillips 66 delivered a strong performance in the fourth quarter and for the full year 2023. It reported a total shareholder return of 33% in 2023 and also increased its quarterly dividend by 8%. The company highlighted its diversified and integrated portfolio as a key aspect of its business strategy, claiming that it delivered strong returns on capital employed and a high payout ratio backed by dividend growth. It is aiming to increase mid-cycle adjusted EBITDA by 40% to $14 billion by 2025.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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