Price to Sales (P/S)
since 2012
Calculation
Phillips 66, P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Sales and other operating revenues1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 21, 2020 | 0.37 | = | 89.25 | ÷ | 244.16 | 244.16 | = | 107,293 | ÷ | 439,445,842 | |
| Feb 22, 2019 | 0.40 | = | 97.36 | ÷ | 245.02 | 245.02 | = | 111,461 | ÷ | 454,913,087 | |
| Feb 23, 2018 | 0.45 | = | 91.83 | ÷ | 204.20 | 204.20 | = | 102,354 | ÷ | 501,237,339 | |
| Feb 17, 2017 | 0.48 | = | 78.66 | ÷ | 162.76 | 162.76 | = | 84,279 | ÷ | 517,816,429 | |
| Feb 19, 2016 | 0.43 | = | 80.09 | ÷ | 187.64 | 187.64 | = | 98,975 | ÷ | 527,459,894 | |
| Feb 20, 2015 | 0.26 | = | 77.34 | ÷ | 296.62 | 296.62 | = | 161,212 | ÷ | 543,497,802 | |
| Feb 21, 2014 | 0.26 | = | 74.95 | ÷ | 292.02 | 292.02 | = | 171,596 | ÷ | 587,624,299 | |
| Feb 22, 2013 | 0.22 | = | 64.11 | ÷ | 288.75 | 288.75 | = | 179,460 | ÷ | 621,509,611 |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Phillips 66 Annual Report.
- Share Price Trend
- The share price exhibited an overall upward movement from February 2013 through February 2019, increasing from $64.11 to a peak of $97.36. However, a decline was observed in February 2020, with the price falling to $89.25. Despite this downturn, the price remained substantially higher than the initial value in 2013.
- Sales per Share Analysis
- Sales per share showed minor increases from 2013 to 2015, moving from $288.75 to $296.62. Thereafter, a significant decrease occurred in the subsequent years, reaching a low of $162.76 by February 2017. Following this decline, a recovery trend is notable, with sales per share rising steadily to $245.02 in 2019, before a slight decrease to $244.16 in 2020.
- Price-to-Sales (P/S) Ratio Behavior
- The P/S ratio increased markedly between 2013 and 2017, climbing from 0.22 to a high of 0.48. After this peak, the ratio gradually decreased each year, falling to 0.37 by February 2020. This suggests that the market valuation relative to sales became more elevated during the earlier years, followed by a moderation in later periods.
- Correlation and Insights
- The increase in share price from 2013 to 2019 correlates with a general recovery in sales per share after a mid-period dip, indicating investor confidence returned alongside improving sales figures. The rise and subsequent decline in the P/S ratio imply changing market perceptions of the company’s sales growth prospects or profitability over time. The decline in share price and P/S ratio in 2020 may reflect market adjustments possibly due to external factors affecting performance or outlook.
Comparison to Competitors
Phillips 66, P/S, long-term trends, comparison to competitors
| Phillips 66 | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | Occidental Petroleum Corp. | |
|---|---|---|---|---|---|
| Feb 21, 2020 | 0.37 | 1.46 | 1.94 | 0.88 | 1.44 |
| Feb 22, 2019 | 0.40 | 1.43 | 2.16 | 1.20 | 2.80 |
| Feb 23, 2018 | 0.45 | 1.56 | 2.21 | 1.35 | 4.18 |
| Feb 17, 2017 | 0.48 | 1.91 | 2.51 | 1.54 | 4.94 |
| Feb 19, 2016 | 0.43 | 1.24 | 1.38 | 1.30 | 4.27 |
| Feb 20, 2015 | 0.26 | 1.02 | 1.57 | 0.95 | 3.18 |
| Feb 21, 2014 | 0.26 | 0.98 | 1.50 | 0.98 | 3.12 |
| Feb 22, 2013 | 0.22 | 0.98 | 1.23 | 0.89 | 2.73 |
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, P/S, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Phillips 66 | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Feb 21, 2020 | 0.37 | 1.16 |
| Feb 22, 2019 | 0.40 | 1.41 |
| Feb 23, 2018 | 0.45 | 1.57 |
| Feb 17, 2017 | 0.48 | 1.81 |
| Feb 19, 2016 | 0.43 | 1.37 |
| Feb 20, 2015 | 0.26 | 1.09 |
| Feb 21, 2014 | 0.26 | 1.09 |
| Feb 22, 2013 | 0.22 | 1.00 |
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, P/S, long-term trends, comparison to industry (energy)
| Phillips 66 | Energy | |
|---|---|---|
| Feb 21, 2020 | 0.37 | 1.19 |
| Feb 22, 2019 | 0.40 | 1.43 |
| Feb 23, 2018 | 0.45 | 1.70 |
| Feb 17, 2017 | 0.48 | 1.98 |
| Feb 19, 2016 | 0.43 | 1.45 |
| Feb 20, 2015 | 0.26 | 1.16 |
| Feb 21, 2014 | 0.26 | 1.18 |
| Feb 22, 2013 | 0.22 | 1.07 |
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).