Phillips 66 (PSX)

Fixed asset turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	143,153,000	147,399,000	169,990,000	111,476,000	64,129,000
Property, plant and equipment	US$ in thousands	—	—	36,158,000	23,485,000	24,927,000
Fixed asset turnover		—	—	4.70	4.75	2.57

December 31, 2024 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $143,153,000K ÷ $—K
= —

Fixed asset turnover is a financial ratio that measures how efficiently a company is utilizing its fixed assets to generate revenue. In the case of Phillips 66, the fixed asset turnover has shown steady improvement over the years, increasing from 2.57 in December 31, 2020, to 4.75 in December 31, 2021, and maintaining a high level at 4.70 in December 31, 2022. This indicates that the company has been effective in generating sales relative to its investment in fixed assets during these periods.

However, the data is missing for December 31, 2023, and December 31, 2024, which prevents a complete evaluation of the trend in fixed asset turnover for those years. It would be beneficial to obtain this missing data to ensure a thorough analysis of Phillips 66's efficiency in utilizing its fixed assets. Overall, based on the available information, the increasing trend in fixed asset turnover reflects positively on the company's operational efficiency and effective management of its fixed asset base.