Phillips 66 (PSX)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 3,323,000 | 3,539,000 | 3,029,000 | 6,965,000 | 6,133,000 | 3,744,000 | 2,809,000 | 3,335,000 | 3,147,000 | 2,897,000 | 2,207,000 | 1,351,000 | 2,514,000 | 1,462,000 | 1,890,000 | 1,221,000 | 1,614,000 | 2,268,000 | 1,819,000 | 1,253,000 |
| Short-term investments | US$ in thousands | — | — | — | — | 329,000 | — | — | — | — | 14,059,000 | 13,520,000 | 13,376,000 | 13,624,000 | 13,767,000 | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 15,856,000 | 17,416,000 | 14,971,000 | 14,705,000 | 15,889,000 | 17,882,000 | 17,608,000 | 17,603,000 | 12,801,000 | 13,921,000 | 14,551,000 | 11,431,000 | 9,518,000 | 10,513,000 | 10,023,000 | 10,529,000 | 11,646,000 | 12,083,000 | 11,171,000 | 11,328,000 |
| Cash ratio | 0.21 | 0.20 | 0.20 | 0.47 | 0.41 | 0.21 | 0.16 | 0.19 | 0.25 | 1.22 | 1.08 | 1.29 | 1.70 | 1.45 | 0.19 | 0.12 | 0.14 | 0.19 | 0.16 | 0.11 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($3,323,000K
+ $—K)
÷ $15,856,000K
= 0.21
The cash ratio for Phillips 66 has shown fluctuation over the past eight quarters. In Q4 2023, the cash ratio was reported at 0.28, indicating that for every dollar of current liabilities, the company had $0.28 in cash or cash equivalents. This was a slight increase from the previous quarter (Q3 2023) where the ratio was 0.27.
Comparing the current quarter to the same quarter a year ago, there has been a decrease in the cash ratio from 0.48 in Q4 2022 to 0.28 in Q4 2023. This indicates a potential decrease in the company's liquidity over the year.
The highest cash ratio was observed in Q1 2023 at 0.54, which suggests a stronger liquidity position at that point in time. However, this ratio dropped to 0.27 in both Q2 and Q3 2023, signaling a decrease in available cash relative to current liabilities.
Overall, the trend in the cash ratio for Phillips 66 indicates some variability in the company's ability to cover its short-term obligations with cash on hand. It may be worth further investigation to understand the factors contributing to these fluctuations and assess the company's overall liquidity position.
Peer comparison
Dec 31, 2023