Phillips 66 (PSX)
Fixed asset turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 143,124,000 | 147,709,000 | 151,824,000 | 148,814,000 | 147,399,000 | 149,408,000 | 154,720,000 | 168,207,000 | 169,990,000 | 162,315,000 | 147,603,000 | 126,028,000 | 111,476,000 | 95,281,000 | 80,967,000 | 64,878,000 | 64,129,000 | 76,845,000 | 88,134,000 | 105,068,000 |
| Property, plant and equipment | US$ in thousands | — | — | — | — | — | 35,533,000 | 35,232,000 | 35,111,000 | 35,163,000 | 34,962,000 | 22,229,000 | 22,333,000 | 23,485,000 | 22,377,000 | 23,688,000 | 23,677,000 | 24,927,000 | 23,489,000 | 24,282,000 | 24,051,000 |
| Fixed asset turnover | — | — | — | — | — | 4.20 | 4.39 | 4.79 | 4.83 | 4.64 | 6.64 | 5.64 | 4.75 | 4.26 | 3.42 | 2.74 | 2.57 | 3.27 | 3.63 | 4.37 |
December 31, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $143,124,000K ÷ $—K
= —
The fixed asset turnover ratio measures how efficiently a company utilizes its fixed assets to generate sales revenue. A higher fixed asset turnover ratio is generally preferred as it indicates that the company is generating more revenue per dollar invested in fixed assets.
Looking at the historical trend of Phillips 66's fixed asset turnover ratio over the past few years, we observe fluctuations in the ratio:
- The fixed asset turnover ratio increased from 4.37 in March 2020 to 6.64 in June 2022, reflecting a significant improvement in the efficiency of utilizing fixed assets to generate sales revenue during this period.
- However, the ratio started to decline after June 2022, dropping to 4.20 in September 2023. This could indicate challenges in maintaining the efficiency of fixed asset utilization or changes in the company's asset base.
- As of December 31, 2023, the fixed asset turnover ratio stands at an incomplete data point, suggesting a potential slowing down or lack of information for that period.
It is important for stakeholders to further investigate the factors driving these fluctuations in the fixed asset turnover ratio and evaluate whether changes in operational efficiency, capital investment decisions, or business strategies are influencing the company's ability to effectively leverage its fixed assets for revenue generation.
Peer comparison
Dec 31, 2024