Phillips 66 (PSX)
Solvency ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Debt-to-capital 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 |
| 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 |
| Financial leverage ratio | 2.65 | 2.61 | 2.58 | 2.57 | 2.39 | 2.52 | 2.50 | 2.55 | 2.59 | 2.74 | 2.59 | 2.78 | 2.90 | 3.11 | 3.14 | 3.09 | 2.88 | 2.75 | 2.63 | 2.50 |
Based on the provided data for Phillips 66, the solvency ratios indicate a strong financial position in terms of the company's ability to meet its long-term obligations.
- The Debt-to-assets ratio has consistently been at 0.00 across all reported periods, which indicates that the company's total liabilities are well-supported by its assets.
- Similarly, the Debt-to-capital ratio shows a consistent 0.00 across all periods, highlighting that the company is not heavily reliant on debt to finance its operations.
- The Debt-to-equity ratio also remains at 0.00 throughout the periods, suggesting that the company has a minimal amount of debt in relation to its shareholder equity.
- The Financial leverage ratio, which measures the extent to which the company is using debt to finance its operations, shows a decreasing trend from 2.50 to 2.65 over the reported periods. This indicates that the company is becoming less reliant on debt financing compared to its equity as time progresses.
Overall, the solvency ratios for Phillips 66 suggest that the company has a strong financial position with minimal debt levels and a healthy balance between debt and equity financing.
Coverage ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 3.80 | 5.69 | 8.31 | 9.04 | 11.19 | 11.73 | 17.77 | 23.65 | 22.82 | 24.21 | 12.95 | 6.57 | 3.84 | 0.01 | -3.09 | -4.86 | -8.53 | -5.44 | -0.92 | 3.88 |
The interest coverage ratio of Phillips 66 experienced significant fluctuations over the period from March 31, 2020, to December 31, 2024. Initially, the company's interest coverage ratio was 3.88, indicating that the company's operating income could cover its interest expenses almost four times over.
However, the interest coverage ratio turned negative in the subsequent reporting periods from June 30, 2020, to March 31, 2021. This negative trend suggests that the company's operating income was not sufficient to cover its interest expenses during those periods, indicating potential financial distress and a higher risk of default on debt obligations.
Starting from June 30, 2021, the company's interest coverage ratio improved gradually, indicating a better ability to cover interest expenses with operating income. The ratio reached its peak at 24.21 on September 30, 2022, reflecting a significant improvement in the company's financial health and capacity to meet interest obligations comfortably.
Subsequently, the interest coverage ratio declined but remained positive, indicating that the company's operating income could still cover its interest expenses. The ratio stabilized around 5 to 10 from March 31, 2023, to December 31, 2024, suggesting a relatively healthy financial position with a moderate ability to cover interest payments.
Overall, the trend in Phillips 66's interest coverage ratio shows fluctuations indicating varying levels of financial strength and debt repayment capacity over the analyzed period. Investors and stakeholders should continue monitoring this ratio to assess the company's ability to manage its debt obligations effectively.