Phillips 66 (PSX)

Current 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
Total current assets US$ in thousands 19,941,000 22,496,000 19,898,000 22,670,000 21,922,000 23,270,000 22,492,000 19,854,000 14,697,000 16,019,000 15,780,000 14,418,000 13,276,000 12,822,000 12,499,000 11,705,000 14,395,000 15,617,000 14,295,000 14,815,000
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
Current ratio 1.26 1.29 1.33 1.54 1.38 1.30 1.28 1.13 1.15 1.15 1.08 1.26 1.39 1.22 1.25 1.11 1.24 1.29 1.28 1.31

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $19,941,000K ÷ $15,856,000K
= 1.26

The current ratio of Phillips 66 has fluctuated over the past eight quarters, ranging from 1.13 in Q1 2022 to 1.54 in Q1 2023. Generally, the current ratio has been above 1, indicating that the company has had sufficient current assets to cover its current liabilities.

A current ratio above 1 is typically considered healthy, as it suggests that the company can meet its short-term obligations. However, a decreasing trend in the current ratio over time may raise concerns about the company's liquidity position.

While a current ratio of 1.26 in Q4 2023 is still above the critical threshold of 1, it has decreased compared to the previous quarters. It would be essential to assess the reasons behind this decline and monitor future fluctuations in the current ratio to understand the company's liquidity position and ability to meet its short-term financial obligations.


Peer comparison

Dec 31, 2023


See also:

Phillips 66 Current Ratio (Quarterly Data)