Phillips 66 (PSX)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 1,738,000 | 1,637,000 | 2,444,000 | 1,570,000 | 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 |
| 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 | 15,087,000 | 15,922,000 | 18,271,000 | 17,667,000 | 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 |
| Cash ratio | 0.12 | 0.10 | 0.13 | 0.09 | 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 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,738,000K
+ $—K)
÷ $15,087,000K
= 0.12
The cash ratio of Phillips 66 has displayed fluctuations over the years, indicating changes in its liquidity position. The ratio started at a low point of 0.12 as of March 31, 2020, and gradually increased to reach a peak of 1.70 by December 31, 2020, showing significant improvement in the company's ability to cover its short-term liabilities with cash on hand.
Subsequently, the cash ratio experienced a slight decline throughout 2021 and early 2022, hovering around the range of 0.19 to 1.29. This fluctuation suggests that the company may have utilized its cash reserves for various purposes during this period.
From March 31, 2022, to June 30, 2024, the cash ratio generally decreased, fluctuating between 0.09 and 0.20, indicating a potential decrease in the company's ability to cover its short-term liabilities solely with cash assets during this period.
Overall, the cash ratio of Phillips 66 reflects changes in its liquidity position and highlights the importance of maintaining an adequate level of cash reserves to meet short-term obligations effectively.
Peer comparison
Dec 31, 2024