• Phillips 66 average return on tangible equity for 2023 was 31.41, a 1.66% decline from 2022.
• Phillips 66 average return on tangible equity for 2022 was 31.94, a 929.61% decline from 2021.
• Phillips 66 average return on tangible equity for 2021 was -3.85, a 57.08% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.