Phillips 66 (PSX)

Debt-to-assets 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
Long-term debt US$ in thousands
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
Debt-to-assets ratio 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 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 for Phillips 66 has fluctuated slightly over the past eight quarters, ranging from 0.21 to 0.27. Generally, the ratio has remained relatively stable around the 0.24 mark, indicating that the company finances a moderate portion of its assets with debt. A lower debt-to-assets ratio suggests lower financial risk and a higher level of financial stability.

The ratio of 0.26 in Q4 2023 indicates that Phillips 66 has $0.26 in debt for every dollar of assets. While this ratio is an important measure of financial leverage, it should be considered in conjunction with other financial metrics to gain a comprehensive understanding of the company's financial health. Overall, the trend in the debt-to-assets ratio for Phillips 66 does not show any significant cause for concern and suggests a relatively conservative approach to debt management.


Peer comparison

Dec 31, 2023


See also:

Phillips 66 Debt to Assets (Quarterly Data)