Current Ratio
since 2012
Calculation
Phillips 66, current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2019 | 1.24 | = | 14,395) | ÷ | 11,646) |
| Dec 31, 2018 | 1.48 | = | 13,209) | ÷ | 8,935) |
| Dec 31, 2017 | 1.42 | = | 14,390) | ÷ | 10,107) |
| Dec 31, 2016 | 1.34 | = | 12,680) | ÷ | 9,463) |
| Dec 31, 2015 | 1.63 | = | 12,256) | ÷ | 7,531) |
| Dec 31, 2014 | 1.50 | = | 16,696) | ÷ | 11,094) |
| Dec 31, 2013 | 1.49 | = | 19,237) | ÷ | 12,931) |
| Dec 31, 2012 | 1.44 | = | 17,962) | ÷ | 12,482) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
1 US$ in millions
The analysis of the annual financial data reveals notable trends in key liquidity indicators over the observed period from 2012 to 2019.
- Current Assets
- Current assets show considerable fluctuation. The value peaked in 2013 at $19,237 million before declining to $12,256 million in 2015, representing a significant reduction. Subsequently, there is a moderate recovery to $14,395 million by the end of 2019. This pattern suggests periods of asset optimization or potential divestitures, followed by stabilization.
- Current Liabilities
- Current liabilities mirror a declining trend from $12,482 million in 2012 to a low of $7,531 million in 2015, indicating a reduction in short-term obligations during that time. Post-2015, liabilities begin to rise again, reaching $11,646 million in 2019. This increase in liabilities may reflect increased operational activities or changes in financing structures.
- Current Ratio
- The current ratio demonstrates a generally strong liquidity position, maintaining levels above 1.2 throughout the timeframe. It improves from 1.44 in 2012, peaks at 1.63 in 2015, corresponding with the trough in current liabilities and asset decline, and then declines to 1.24 in 2019. The decrease towards the end of the period might suggest tightening liquidity or increased use of current liabilities relative to current assets.
Overall, the data indicates a cycle of contraction in both assets and liabilities up to 2015, followed by a phase of gradual recovery. The current ratio stability above 1.2 suggests maintained short-term solvency, though the declining trend in the latter years warrants monitoring to ensure continued liquidity strength.
Comparison to Competitors
Phillips 66, current ratio, long-term trends, comparison to competitors
| Phillips 66 | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | Occidental Petroleum Corp. | |
|---|---|---|---|---|---|
| Dec 31, 2019 | 1.24 | 1.07 | 2.40 | 0.78 | 1.25 |
| Dec 31, 2018 | 1.48 | 1.25 | 1.79 | 0.84 | 1.34 |
| Dec 31, 2017 | 1.42 | 1.03 | 1.76 | 0.82 | 1.12 |
| Dec 31, 2016 | 1.34 | 0.93 | 1.25 | 0.87 | 1.32 |
| Dec 31, 2015 | 1.63 | 1.34 | 0.95 | 0.79 | 1.37 |
| Dec 31, 2014 | 1.50 | 1.32 | 1.31 | 0.82 | 1.68 |
| Dec 31, 2013 | 1.49 | 1.52 | 1.26 | 0.83 | 1.34 |
| Dec 31, 2012 | 1.44 | 1.63 | 1.38 | 1.01 | 1.30 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
Phillips 66, current ratio, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Phillips 66 | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2019 | 1.24 | 1.01 |
| Dec 31, 2018 | 1.48 | 1.06 |
| Dec 31, 2017 | 1.42 | 0.98 |
| Dec 31, 2016 | 1.34 | 0.95 |
| Dec 31, 2015 | 1.63 | 1.00 |
| Dec 31, 2014 | 1.50 | 1.07 |
| Dec 31, 2013 | 1.49 | 1.09 |
| Dec 31, 2012 | 1.44 | 1.25 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
Comparison to Industry (Energy)
Phillips 66, current ratio, long-term trends, comparison to industry (energy)
| Phillips 66 | Energy | |
|---|---|---|
| Dec 31, 2019 | 1.24 | 1.03 |
| Dec 31, 2018 | 1.48 | 1.07 |
| Dec 31, 2017 | 1.42 | 1.01 |
| Dec 31, 2016 | 1.34 | 1.04 |
| Dec 31, 2015 | 1.63 | 1.11 |
| Dec 31, 2014 | 1.50 | 1.14 |
| Dec 31, 2013 | 1.49 | 1.17 |
| Dec 31, 2012 | 1.44 | 1.31 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).