Phillips 66 (PSX)
Total 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 |
| Total assets | US$ in thousands | 72,582,000 | 75,501,000 | 76,442,000 | 55,594,000 | 54,721,000 |
| Total asset turnover | 1.97 | 1.95 | 2.22 | 2.01 | 1.17 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $143,153,000K ÷ $72,582,000K
= 1.97
Total asset turnover measures how efficiently a company is utilizing its assets to generate revenue. In the case of Phillips 66, the total asset turnover ratio has shown fluctuations over the past five years.
In 2020, the total asset turnover was 1.17, indicating that for every dollar of assets owned, the company generated $1.17 in revenue. This figure increased significantly to 2.01 in 2021, suggesting an improvement in asset utilization efficiency. The trend continued to rise in 2022 to 2.22, indicating that Phillips 66 was generating $2.22 in revenue for every dollar of assets owned.
However, in 2023, the total asset turnover ratio decreased to 1.95, potentially signaling a slight decline in asset utilization efficiency. The ratio remained relatively consistent in 2024 at 1.97, indicating that the company was still generating $1.97 in revenue for every dollar of assets owned.
Overall, the trend in total asset turnover for Phillips 66 shows both improvements and slight declines in asset utilization efficiency over the five-year period, with notable peaks in 2022. Investors and stakeholders may want to further investigate the reasons behind these fluctuations to assess the company's operational efficiency and performance.
Peer comparison
Dec 31, 2024