Phillips 66 (PSX)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total assets | US$ in thousands | 75,501,000 | 76,442,000 | 55,594,000 | 54,721,000 | 58,720,000 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $75,501,000K
= 0.00
The debt-to-assets ratio of Phillips 66 has shown some fluctuations over the past five years. In 2023, the ratio increased to 0.26 from 0.22 in 2022. This suggests that the company's total debt as a proportion of its total assets has also increased slightly, indicating a higher reliance on debt to finance its operations and investments. However, compared to 2020 and 2021, where the ratio was 0.29 and 0.26 respectively, the current ratio is relatively lower.
In 2019, the ratio was at its lowest at 0.20, indicating a lower level of debt relative to assets that year. Overall, the trend in the debt-to-assets ratio for Phillips 66 indicates some variability, but it is important to consider other financial metrics and industry benchmarks to gain a comprehensive understanding of the company's financial leverage and risk management strategies.
Peer comparison
Dec 31, 2023