Direct Answer
Phillips 66 reports revenue across 4 product and service lines in its fiscal 2025 Form 10-K. Refined Petroleum Products and Renewable Fuels is the largest, with $97.4 billion of revenue (74% of the total), followed by Natural Gas Liquids Reserves at $17.1 billion (13%). 79% of revenue came from the United States.
How Does Phillips 66 Make Money?
Refined Petroleum Products and Renewable Fuels supplies 74% of revenue, so Phillips 66's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Natural Gas Liquids Reserves grew fastest (+17.3%) and Crude Oil slowest (-31.0%), so the revenue mix tilts toward Natural Gas Liquids Reserves while that gap lasts.
| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Refined Petroleum Products and Renewable Fuels | $97.4 billion | $104 billion | 73.5% | -6.1% |
| Natural Gas Liquids Reserves | $17.1 billion | $14.5 billion | 12.9% | 17.3% |
| Crude Oil | $15.2 billion | $22.0 billion | 11.5% | -31.0% |
| Other Product Line | $2.8 billion | $2.9 billion | 2.1% | -4.9% |
Where Does Phillips 66's Revenue Come From?
Regions follow the definitions in the filing; most companies assign revenue by customer location.
| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| United States | $104 billion | $114 billion | 78.8% | -8.2% |
| United Kingdom | $13.2 billion | $12.7 billion | 10.0% | 3.9% |
| Other Geographical Areas | $9.9 billion | $11.6 billion | 7.5% | -14.3% |
| Germany | $5.0 billion | $5.3 billion | 3.8% | -5.2% |
What the Segment Figures Do Not Show
The rows above add up to 100% of Phillips 66's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Phillips 66 reported in the segment note and revenue disclosures of its Form 10-K filed February 20, 2026 (accession 0001534701-26-000006), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Phillips 66's main products and services?
In its fiscal 2025 Form 10-K, Phillips 66 reports revenue for Refined Petroleum Products and Renewable Fuels, Natural Gas Liquids Reserves, Crude Oil and Other Product Line.
Which part of Phillips 66 brings in the most revenue?
Refined Petroleum Products and Renewable Fuels, with $97.4 billion of revenue in fiscal 2025, or 74% of the total.
How much of Phillips 66's revenue comes from outside the United States?
21% in fiscal 2025, by the geographic breakdown Phillips 66 reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.