Elliott · activist-deck
Phillips 66 (PSX)
53 pages · 3 arc beats · 2 loops
Phillips 66 (PSX)
Elliott · 2025-02 arc beats above · slides in the middle · loops below · scroll → 2 LOOPS
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Deck intelligence map
3 coverage by narrative range · generated from this deck JSON
Narrative range 29 total
Metadata
Components
Metrics
Tools
Frameworks
Beats
Loops
Problem 3 slides 100% 3/3 slides 100% 3/3 slides · 22 hits — 0/3 slides
100% 3/3 slides · 5 hits 100% 3/3 slides 100% 3/3 slides — 0/3 slides
Agitate 18 slides 100% 18/18 slides 100% 18/18 slides · 126 hits — 0/18 slides
94.4% 17/18 slides · 25 hits 100% 18/18 slides 100% 18/18 slides — 0/18 slides
Solution 8 slides 100% 8/8 slides 100% 8/8 slides · 54 hits — 0/8 slides
75% 6/8 slides · 8 hits 87.5% 7/8 slides · 8 hits 100% 8/8 slides 62.5% 5/8 slides Slide inventory
53 every slide · same image gating as the playbook
03
Includes a bar chart comparing TSR performance before and after Elliott's involvement.introduce_nominees
04
The slide uses a list of checkmarks to emphasize the thoroughness of the due diligence process.establish_context
05
The slide uses a three-column structure to contrast current state with proposed future state.summarize
06
The chart uses a color-coded grouping strategy to compare Phillips 66's current valuation against peer groups (Refining, Midstream MLPs, Midstream C-Corps, Chemshow_valuation_bridge
07
The slide uses a red color palette to emphasize negative performance and urgency.diagnose_problem
Open slide detailBeat · Problem
08
Uses a sum-of-the-parts valuation bridge to highlight the valuation gap.show_valuation_bridge
Open slide detailBeat · Problem
09
Uses a waterfall-bridge chart to illustrate value creation from current price to target price.propose_solution
Open slide detailBeat · Problem
10
Uses a before-after-bridge structure to contrast performance periods.illustrate_case
Open slide detailLoop · Before After
12
The slide uses a navigation bar at the top and a footer with the activist firm name (Elliott) and campaign name (Streamline 66).frame_situation
13
The slide uses a 'Valuable Assets' theme to argue for the potential of the refining business under Elliott's proposed management.compare_peers
14
Includes a dual-axis chart showing EBITDA-Capex and conversion percentage over time.analyze_data
15
The slide uses a comparative benchmarking approach to justify the valuation of the midstream segment.compare_peers
16
Includes a cost curve chart showing CPChem's competitive advantage.quantify_opportunity
17
This slide uses a quote to establish the 'underperforming' thesis point.cite_precedent
Open slide detailBeat · Agitate
18
The slide uses a rhetorical question as an action title to challenge management's narrative.compare_peers
Open slide detailBeat · Agitate
19
Uses a three-column layout to categorize the problems.diagnose_problem
Open slide detailBeat · Agitate
20
Includes a CEO quote used to contrast with the market performance data.expose_contradiction
Open slide detailBeat · Agitate
21
The slide uses a 'villain' framing by highlighting the 'Phillips Today' column with red 'X' marks to emphasize negative performance metrics.compare_peers
Open slide detailBeat · Agitate
22
The slide uses a 'dilutive vs accretive' framework to argue against the conglomerate's M&A strategy.compare_peers
Open slide detailBeat · Agitate
23
Uses a visual metaphor of a hand crushing a road sign to represent management's stubbornness.expose_contradiction
Open slide detailBeat · Agitate
24
The slide uses a 'villain' framing by highlighting the gap between management claims and actual performance metrics.expose_gap
Open slide detailBeat · Agitate
25
The slide uses a red banner motif to highlight negative performance areas.diagnose_problem
Open slide detailBeat · Agitate
26
The slide uses a 'villain' framing by attributing poor performance to management's reliance on consultants rather than internal expertise.name_villain
Open slide detailBeat · Agitate
27
Uses a 'Promises vs. Reality' framework to highlight management credibility issues.expose_contradiction
Open slide detailBeat · Agitate
28
Uses a red-highlighted callout to contrast management's quote with the quantitative shortfall.expose_contradiction
Open slide detailBeat · Agitate
29
Uses quotes from management to expose a gap between historical performance and current excuses.expose_contradiction
Open slide detailBeat · Agitate
30
Uses a side-by-side comparison to frame Suncor as the 'High-Performing Company' and Phillips 66 as the 'Underperforming Company'.expose_contradiction
Open slide detailBeat · Agitate
31
Uses a 'best practice' framework to contrast two companies; includes a section of analyst quotes to validate Suncor's success.compare_peers
Open slide detailBeat · Agitate
32
Uses a 'villain' framing technique to attack management's track record on capital allocation.expose_contradiction
Open slide detailBeat · Agitate
33
Uses a waterfall chart to illustrate the net impact of divestitures vs acquisitions.expose_contradiction
Open slide detailBeat · Agitate
34
The slide uses a red-themed 'shortfalls' column to emphasize negative performance gaps.expose_gap
Open slide detailBeat · Agitate
35
The slide uses a quote to highlight market skepticism regarding the company's conglomerate structure.expose_contradiction
Open slide detailBeat · Solution
36
The slide uses a before-after framing to justify a valuation uplift.show_valuation_bridge
37
Includes a map of Permian NGL assets, a market share pie chart for the DJ Basin, and a sensitivity analysis for standalone valuation based on EBITDA multiples.show_valuation_bridge
38
The slide uses a checkmark matrix to demonstrate strategic alignment across multiple criteria.compare_peers
39
The slide uses a comparison framework to validate the proposed strategy by citing a successful precedent (Marathon).compare_peers
40
Includes a sensitivity analysis table for share repurchases at various premiums.quantify_opportunity
41
The slide uses a 'before-after' framing to contrast past projections with current reality, highlighting the success of the activist campaign.expose_contradiction
Open slide detailBeat · Solution
42
The slide uses a waterfall-bridge chart to illustrate the value creation potential of the proposed plan.state_next_steps
Open slide detailBeat · Solution
44
Contains detailed footnotes explaining adjustments for turnaround expenses and peer comparability.analyze_data
45
Includes footnotes detailing specific adjustments for PSX, SUN, OKE, TRGP, and DOW.analyze_data
46
Includes detailed footnotes explaining specific adjustments for debt, cash, and asset divestitures.show_valuation_bridge
47
Includes detailed footnotes explaining valuation assumptions, tax rates, and synergy calculations.analyze_data
48
Contains multiple tables detailing asset divestiture proceeds, share buyback scenarios, debt allocation, and cash adjustments.analyze_data
49
Contains detailed financial modeling assumptions and sensitivity calculations.analyze_data
50
The slide uses a classic 'excuse vs. counterpoint' structure to dismantle potential management defenses.preempt_rebuttal
51
The slide uses a 'Potential Defense vs. Counterpoint' structure to systematically dismantle arguments for maintaining the status quo.preempt_rebuttal
52
The slide uses a weighted average calculation to argue that PSX's current leverage is appropriate given its diversified business mix.compare_peers