Phillips 66 (PSX)
Inventory 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 133,780,000 | 138,138,000 | 140,219,000 | 134,705,000 | 131,632,000 | 131,349,000 | 135,607,000 | 147,545,000 | 151,561,000 | 145,727,000 | 134,541,000 | 117,119,000 | 103,707,000 | 89,401,000 | 76,372,000 | 60,741,000 | 59,102,000 | 70,048,000 | 79,329,000 | 94,266,000 |
| Inventory | US$ in thousands | 3,995,000 | 6,037,000 | 6,522,000 | 6,286,000 | 3,750,000 | 5,732,000 | 6,380,000 | 5,445,000 | 3,276,000 | 4,294,000 | 4,580,000 | 4,530,000 | 3,394,000 | 4,400,000 | 4,752,000 | 4,273,000 | 3,893,000 | 4,897,000 | 5,136,000 | 5,331,000 |
| Inventory turnover | 33.49 | 22.88 | 21.50 | 21.43 | 35.10 | 22.92 | 21.26 | 27.10 | 46.26 | 33.94 | 29.38 | 25.85 | 30.56 | 20.32 | 16.07 | 14.22 | 15.18 | 14.30 | 15.45 | 17.68 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $133,780,000K ÷ $3,995,000K
= 33.49
The inventory turnover ratio for Phillips 66 has fluctuated over the years based on the provided data. The ratio indicates how efficiently the company is managing its inventory levels and converting them into sales. A higher turnover ratio suggests that inventory is being sold quickly, which is generally favorable.
From March 31, 2020, to December 31, 2024, the inventory turnover ratio ranged from a low of 14.22 to a high of 46.26. There were noticeable fluctuations in the ratio over the period, with some quarters showing significant improvements while others experienced declines.
The trend in the inventory turnover ratio indicates that Phillips 66 made improvements in managing its inventory efficiently in the latter part of the analyzed period, with the ratio peaking at 46.26 on December 31, 2022. However, it subsequently decreased and fluctuated around the mid-20s to low 30s range.
Overall, Phillips 66's inventory turnover ratio demonstrates a mix of efficient inventory management and possible challenges in certain periods. Further analysis would be needed to understand the factors driving these fluctuations and to assess the company's inventory management strategies in more detail.
Peer comparison
Dec 31, 2024
Dec 31, 2024