Phillips 66 (PSX)
Operating return on assets (Operating ROA)
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 7,933,000 | 6,749,000 | 9,414,000 | 12,984,000 | 11,311,000 | 10,211,000 | 4,405,000 | -309,000 | -2,390,000 | 15,929,000 | 14,626,000 | 13,725,000 | 8,966,000 | 21,682,000 | 23,643,000 | 25,266,000 | 30,308,000 | 30,281,000 | 32,098,000 | 32,163,000 |
| Total assets | US$ in thousands | 75,501,000 | 77,786,000 | 74,886,000 | 77,262,000 | 76,442,000 | 77,339,000 | 62,812,000 | 60,638,000 | 55,594,000 | 56,407,000 | 56,977,000 | 55,496,000 | 54,721,000 | 54,281,000 | 54,518,000 | 53,460,000 | 58,720,000 | 58,741,000 | 57,781,000 | 57,855,000 |
| Operating ROA | 10.51% | 8.68% | 12.57% | 16.81% | 14.80% | 13.20% | 7.01% | -0.51% | -4.30% | 28.24% | 25.67% | 24.73% | 16.38% | 39.94% | 43.37% | 47.26% | 51.61% | 51.55% | 55.55% | 55.59% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $7,933,000K ÷ $75,501,000K
= 10.51%
The operating return on assets (operating ROA) for Phillips 66 has shown some fluctuations over the past eight quarters. In Q1 2022, the operating ROA was relatively low at 2.62%, reflecting potential challenges or inefficiencies in the company's operations during that period. Subsequently, the operating ROA showed improvement in Q2 and Q3 2022, reaching 8.35% and 10.46% respectively.
In Q4 2022, there was a notable increase in the operating ROA to 12.55%, indicating improved operational efficiency and profitability. However, in the first quarter of 2023, the operating ROA peaked at 14.71%, signifying a significant improvement in the company's ability to generate profits from its assets.
Subsequently, in Q2 and Q3 2023, the operating ROA remained relatively high at 13.20% and 11.21% respectively, demonstrating consistent profitability. In the most recent quarter, Q4 2023, the operating ROA slightly decreased to 10.49%.
Overall, the trend in operating ROA for Phillips 66 over the eight quarters indicates variability in the company's operational performance, with periods of both improvement and slight decline. However, the company has managed to maintain a relatively strong operating ROA, highlighting its ability to effectively utilize its assets to generate profits.
Peer comparison
Dec 31, 2023