Phillips 66 (PSX)
Debt-to-equity 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 stockholders’ equity | US$ in thousands | 30,583,000 | 30,821,000 | 29,898,000 | 30,249,000 | 29,494,000 | 28,233,000 | 24,276,000 | 21,815,000 | 19,166,000 | 18,139,000 | 18,149,000 | 17,979,000 | 18,984,000 | 19,722,000 | 20,715,000 | 21,372,000 | 24,910,000 | 24,857,000 | 24,752,000 | 24,217,000 |
| Debt-to-equity 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-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $30,583,000K
= 0.00
The debt-to-equity ratio of Phillips 66 has been relatively stable over the past eight quarters, ranging from 0.53 to 0.66.
In Q1 2022 and Q4 2022, the company had lower debt-to-equity ratios of 0.61 and 0.58 respectively, indicating a lower level of debt compared to equity during those periods. This could suggest a conservative financial approach with a lower reliance on debt for funding operations and investments.
On the other hand, in Q2 2022 and Q3 2023, the company had higher debt-to-equity ratios of 0.66, which may indicate an increased level of debt relative to equity. This could imply a higher financial risk due to higher leverage and potential concerns about the company's ability to service its debt obligations.
Overall, the trend in the debt-to-equity ratio suggests that Phillips 66 has maintained a moderate level of leverage, balancing the use of debt and equity to finance its operations and investments. It would be prudent for stakeholders to monitor future changes in this ratio to assess the company's evolving financial risk profile and capital structure.
Peer comparison
Dec 31, 2023