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


See also:

Phillips 66 Debt to Equity (Quarterly Data)