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