Phillips 66 (PSX)
Receivables turnover
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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (ttm) | US$ in thousands | 147,811,000 | 151,287,000 | 158,181,000 | 173,624,000 | 175,470,000 | 167,636,000 | 152,331,000 | 129,770,000 | 114,646,000 | 98,020,000 | 83,151,000 | 66,441,000 | 65,456,000 | 78,172,000 | 89,782,000 | 107,160,000 | 109,529,000 | 109,502,000 | 112,260,000 | 113,560,000 |
Receivables | US$ in thousands | 11,730,000 | 11,976,000 | 9,458,000 | 9,326,000 | 10,985,000 | 13,652,000 | 13,393,000 | 10,455,000 | 7,870,000 | 8,006,000 | 8,719,000 | 8,165,000 | 8,022,000 | 5,963,000 | 4,852,000 | 4,559,000 | 8,510,000 | 7,086,000 | 6,727,000 | 7,303,000 |
Receivables turnover | 12.60 | 12.63 | 16.72 | 18.62 | 15.97 | 12.28 | 11.37 | 12.41 | 14.57 | 12.24 | 9.54 | 8.14 | 8.16 | 13.11 | 18.50 | 23.51 | 12.87 | 15.45 | 16.69 | 15.55 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $147,811,000K ÷ $11,730,000K
= 12.60
The receivables turnover ratio for Phillips 66 has shown fluctuations over the past eight quarters. In Q1 2022, the receivables turnover ratio was 12.05, indicating that on average, the company collected its accounts receivable approximately 12 times during that quarter.
Subsequently, the ratio increased to 11.89 in Q2 2022, slightly decreased to 11.02 in Q3 2022, and then rose again to 15.47 in Q4 2022. This trend of fluctuation continued in 2023, with the ratio dropping to 18.04 in Q1 2023, then decreasing further to 16.36 in Q2 2023.
It is noteworthy that the receivables turnover ratio saw a slight increase in Q3 2023, reaching 12.48, and then a slightly higher increase to 12.57 in Q4 2023. Overall, the trend indicates some variability in how efficiently Phillips 66 is collecting its accounts receivable, with periods of both improvement and decline in the turnover ratio.
Peer comparison
Dec 31, 2023