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


See also:

Phillips 66 Receivables Turnover (Quarterly Data)