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