Phillips 66 (PSX)
Quick 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 | 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 | — | — |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| Quick 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
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,738,000K
+ $—K
+ $—K)
÷ $15,087,000K
= 0.12
The quick ratio of Phillips 66 has fluctuated over the periods analyzed. The quick ratio represents the company's ability to meet its short-term obligations using its most liquid assets.
From March 31, 2020, to June 30, 2022, the quick ratio remained relatively low, indicating potential liquidity challenges. However, there was a significant improvement starting from September 30, 2020, reaching a peak of 1.70 on December 31, 2020, and staying above 1.00 until March 31, 2023.
Subsequently, there was a decline in the quick ratio below 1.00, signaling potential liquidity concerns again. Despite some fluctuations, the quick ratio generally remained below 1.00 from March 31, 2023, onwards, with values ranging from 0.09 to 0.21 as of December 31, 2024.
Overall, the quick ratio of Phillips 66 shows periods of both strength and weakness in liquidity management. It is essential for the company to closely monitor its liquidity position and ensure sufficient liquid assets to cover its short-term obligations effectively.
Peer comparison
Dec 31, 2024