Phillips 66 (PSX)
Debt-to-assets ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total assets | US$ in thousands | 72,582,000 | 75,501,000 | 76,442,000 | 55,594,000 | 54,721,000 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $72,582,000K
= 0.00
The debt-to-assets ratio for Phillips 66 has been consistently reported as 0.00 for the years ending on December 31, 2020, 2021, 2022, 2023, and 2024. This indicates that the company has not reported any long-term debt in relation to its total assets during these years. A debt-to-assets ratio of 0.00 suggests that Phillips 66 has been primarily funded by equity rather than debt, which can be viewed positively as it indicates a lower financial risk and potential for financial stability. However, it's also important to consider that a very low debt-to-assets ratio could imply missed opportunities for leveraging debt to potentially finance growth or generate higher returns for shareholders. Monitoring this ratio over time can provide insights into the company's capital structure and financial health.
Peer comparison
Dec 31, 2024