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.
The Price to Sales (P/S) ratio exhibited a general upward trajectory between 2013 and 2017, followed by a gradual contraction through 2020. While the share price generally increased over the analyzed period, the P/S ratio was heavily influenced by significant fluctuations in sales per share, reflecting changes in market valuation relative to revenue generation.
- Share Price Trends
- A consistent upward trend in equity value is observed from 2013 to 2019. The share price rose from 64.11 US$ in February 2013 to a peak of 97.36 US$ in February 2019, before experiencing a moderate decline to 89.25 US$ by February 2020.
- Sales per Share Volatility
- Revenue per share demonstrated significant volatility. After remaining stable near 290 US$ between 2013 and 2015, a sharp decline occurred, reaching a minimum of 162.76 US$ in 2017. A subsequent recovery period saw sales per share climb back to 244.16 US$ by 2020.
- P/S Ratio Dynamics
- The P/S ratio increased from 0.22 in 2013 to a peak of 0.48 in 2017. This expansion was primarily driven by the contraction in sales per share during a period when share prices remained elevated or continued to grow. Between 2017 and 2020, the ratio compressed from 0.48 to 0.37, indicating that the recovery in sales per share outpaced the growth in share price during the latter part of the period.
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Comparison to Competitors
Phillips 66, P/S, long-term trends, comparison to competitors
| Phillips 66 | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | |
|---|---|---|---|---|
| Feb 21, 2020 | 0.37 | 1.46 | 1.94 | 0.88 |
| Feb 22, 2019 | 0.40 | 1.43 | 2.16 | 1.20 |
| Feb 23, 2018 | 0.45 | 1.56 | 2.21 | 1.35 |
| Feb 17, 2017 | 0.48 | 1.91 | 2.51 | 1.54 |
| Feb 19, 2016 | 0.43 | 1.24 | 1.38 | 1.30 |
| Feb 20, 2015 | 0.26 | 1.02 | 1.57 | 0.95 |
| Feb 21, 2014 | 0.26 | 0.98 | 1.50 | 0.98 |
| Feb 22, 2013 | 0.22 | 0.98 | 1.23 | 0.89 |
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 | 1.15 |
| Feb 22, 2019 | 0.40 | 1.35 |
| Feb 23, 2018 | 0.45 | 1.48 |
| Feb 17, 2017 | 0.48 | 1.72 |
| Feb 19, 2016 | 0.43 | 1.29 |
| Feb 20, 2015 | 0.26 | 1.02 |
| Feb 21, 2014 | 0.26 | 1.02 |
| Feb 22, 2013 | 0.22 | 0.94 |
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 | 1.18 |
| Feb 22, 2019 | 0.40 | 1.38 |
| Feb 23, 2018 | 0.45 | 1.63 |
| Feb 17, 2017 | 0.48 | 1.90 |
| Feb 19, 2016 | 0.43 | 1.37 |
| Feb 20, 2015 | 0.26 | 1.10 |
| Feb 21, 2014 | 0.26 | 1.11 |
| Feb 22, 2013 | 0.22 | 1.02 |
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).