Phillips 66 (PSX)
Debt-to-equity ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 30,583,000 | 29,494,000 | 19,166,000 | 18,984,000 | 24,910,000 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $30,583,000K
= 0.00
The debt-to-equity ratio of Phillips 66 has shown some fluctuations over the past five years. In 2023, the ratio stood at 0.63, indicating that the company had $0.63 in debt for every $1 of equity. This represented an increase from the previous year's ratio of 0.58.
Comparing to 2021 and 2022, where the ratios were 0.75 and 0.58, respectively, the company has managed to reduce its reliance on debt to finance its operations and investments.
However, it's worth noting that the debt-to-equity ratio was higher in 2020 at 0.84, suggesting a higher level of debt relative to equity at that time. The lowest debt-to-equity ratio was in 2019 at 0.47, indicating a stronger financial position with lower debt levels compared to equity.
Overall, the trend in the debt-to-equity ratio of Phillips 66 shows some variability, but the company has demonstrated the ability to manage its capital structure effectively over the years.
Peer comparison
Dec 31, 2023