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


See also:

Phillips 66 Cash Ratio (Quarterly Data)