Stock Analysis on Net
Stock Analysis on Net

Phillips 66 (NYSE:PSX)

This company has been moved to the archive! The financial data has not been updated since February 21, 2020.

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Phillips 66, adjusted financial ratios

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Activity Ratio
Total Asset Turnover
Reported 1.83 2.05 1.88 1.63 2.04
Adjusted 1.70 1.90 1.70 1.50 1.92
Liquidity Ratio
Current Ratio
Reported 1.24 1.48 1.42 1.34 1.63
Adjusted 1.61 1.81 1.85 1.69 1.81
Solvency Ratios
Debt to Equity
Reported 0.47 0.45 0.40 0.45 0.38
Adjusted 0.35 0.36 0.32 0.34 0.34
Debt to Capital
Reported 0.32 0.31 0.29 0.31 0.28
Adjusted 0.26 0.26 0.24 0.25 0.25
Financial Leverage
Reported 2.36 2.20 2.17 2.31 2.10
Adjusted 1.70 1.66 1.64 1.67 1.65
Profitability Ratios
Net Profit Margin
Reported 2.87% 5.02% 4.99% 1.85% 4.27%
Adjusted 4.63% 4.17% 4.62% 4.62% 2.96%
Return on Equity (ROE)
Reported 12.35% 22.70% 20.35% 6.95% 18.30%
Adjusted 13.43% 13.15% 12.90% 11.54% 9.38%
Return on Assets (ROA)
Reported 5.24% 10.30% 9.39% 3.01% 8.70%
Adjusted 7.89% 7.93% 7.86% 6.92% 5.68%

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).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Phillips 66 adjusted total asset turnover ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Phillips 66 adjusted current ratio deteriorated from 2017 to 2018 and from 2018 to 2019.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Phillips 66 adjusted debt-to-equity ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Phillips 66 adjusted debt-to-capital ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Phillips 66 adjusted financial leverage ratio increased from 2017 to 2018 and from 2018 to 2019.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Phillips 66 adjusted net profit margin ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Phillips 66 adjusted ROE improved from 2017 to 2018 and from 2018 to 2019.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Phillips 66 adjusted ROA improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.

Phillips 66, Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Reported
Selected Financial Data (US$ in millions)
Sales and other operating revenues 107,293 111,461 102,354 84,279 98,975
Total assets 58,720 54,302 54,371 51,653 48,580
Activity Ratio
Total asset turnover1 1.83 2.05 1.88 1.63 2.04
Adjusted
Selected Financial Data (US$ in millions)
Sales and other operating revenues 107,293 111,461 102,354 84,279 98,975
Adjusted total assets2 63,013 58,566 60,217 56,267 51,530
Activity Ratio
Adjusted total asset turnover3 1.70 1.90 1.70 1.50 1.92

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).

1 2019 Calculation
Total asset turnover = Sales and other operating revenues ÷ Total assets
= 107,293 ÷ 58,720 = 1.83

2 Adjusted total assets. See details »

3 2019 Calculation
Adjusted total asset turnover = Sales and other operating revenues ÷ Adjusted total assets
= 107,293 ÷ 63,013 = 1.70

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Phillips 66 adjusted total asset turnover ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Reported
Selected Financial Data (US$ in millions)
Current assets 14,395 13,209 14,390 12,680 12,256
Current liabilities 11,646 8,935 10,107 9,463 7,531
Liquidity Ratio
Current ratio1 1.24 1.48 1.42 1.34 1.63
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets2 18,736 16,131 18,719 16,014 13,611
Current liabilities 11,646 8,935 10,107 9,463 7,531
Liquidity Ratio
Adjusted current ratio3 1.61 1.81 1.85 1.69 1.81

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).

1 2019 Calculation
Current ratio = Current assets ÷ Current liabilities
= 14,395 ÷ 11,646 = 1.24

2 Adjusted current assets. See details »

3 2019 Calculation
Adjusted current ratio = Adjusted current assets ÷ Current liabilities
= 18,736 ÷ 11,646 = 1.61

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Phillips 66 adjusted current ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Reported
Selected Financial Data (US$ in millions)
Total debt 11,763 11,160 10,110 10,138 8,887
Stockholders’ equity 24,910 24,653 25,085 22,390 23,100
Solvency Ratio
Debt to equity1 0.47 0.45 0.40 0.45 0.38
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 13,024 12,551 11,718 11,510 10,643
Adjusted total equity3 37,015 35,301 36,674 33,710 31,173
Solvency Ratio
Adjusted debt to equity4 0.35 0.36 0.32 0.34 0.34

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).

1 2019 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 11,763 ÷ 24,910 = 0.47

2 Adjusted total debt. See details »

3 Adjusted total equity. See details »

4 2019 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total equity
= 13,024 ÷ 37,015 = 0.35

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Phillips 66 adjusted debt-to-equity ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Reported
Selected Financial Data (US$ in millions)
Total debt 11,763 11,160 10,110 10,138 8,887
Total capital 36,673 35,813 35,195 32,528 31,987
Solvency Ratio
Debt to capital1 0.32 0.31 0.29 0.31 0.28
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 13,024 12,551 11,718 11,510 10,643
Adjusted total capital3 50,039 47,852 48,392 45,220 41,816
Solvency Ratio
Adjusted debt to capital4 0.26 0.26 0.24 0.25 0.25

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).

1 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= 11,763 ÷ 36,673 = 0.32

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2019 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 13,024 ÷ 50,039 = 0.26

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Phillips 66 adjusted debt-to-capital ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Reported
Selected Financial Data (US$ in millions)
Total assets 58,720 54,302 54,371 51,653 48,580
Stockholders’ equity 24,910 24,653 25,085 22,390 23,100
Solvency Ratio
Financial leverage1 2.36 2.20 2.17 2.31 2.10
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 63,013 58,566 60,217 56,267 51,530
Adjusted total equity3 37,015 35,301 36,674 33,710 31,173
Solvency Ratio
Adjusted financial leverage4 1.70 1.66 1.64 1.67 1.65

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).

1 2019 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 58,720 ÷ 24,910 = 2.36

2 Adjusted total assets. See details »

3 Adjusted total equity. See details »

4 2019 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total equity
= 63,013 ÷ 37,015 = 1.70

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Phillips 66 adjusted financial leverage ratio increased from 2017 to 2018 and from 2018 to 2019.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Reported
Selected Financial Data (US$ in millions)
Net income attributable to Phillips 66 3,076 5,595 5,106 1,555 4,227
Sales and other operating revenues 107,293 111,461 102,354 84,279 98,975
Profitability Ratio
Net profit margin1 2.87% 5.02% 4.99% 1.85% 4.27%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2 4,971 4,643 4,732 3,891 2,925
Sales and other operating revenues 107,293 111,461 102,354 84,279 98,975
Profitability Ratio
Adjusted net profit margin3 4.63% 4.17% 4.62% 4.62% 2.96%

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).

1 2019 Calculation
Net profit margin = 100 × Net income attributable to Phillips 66 ÷ Sales and other operating revenues
= 100 × 3,076 ÷ 107,293 = 2.87%

2 Adjusted net income. See details »

3 2019 Calculation
Adjusted net profit margin = 100 × Adjusted net income ÷ Sales and other operating revenues
= 100 × 4,971 ÷ 107,293 = 4.63%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Phillips 66 adjusted net profit margin ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Reported
Selected Financial Data (US$ in millions)
Net income attributable to Phillips 66 3,076 5,595 5,106 1,555 4,227
Stockholders’ equity 24,910 24,653 25,085 22,390 23,100
Profitability Ratio
ROE1 12.35% 22.70% 20.35% 6.95% 18.30%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2 4,971 4,643 4,732 3,891 2,925
Adjusted total equity3 37,015 35,301 36,674 33,710 31,173
Profitability Ratio
Adjusted ROE4 13.43% 13.15% 12.90% 11.54% 9.38%

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).

1 2019 Calculation
ROE = 100 × Net income attributable to Phillips 66 ÷ Stockholders’ equity
= 100 × 3,076 ÷ 24,910 = 12.35%

2 Adjusted net income. See details »

3 Adjusted total equity. See details »

4 2019 Calculation
Adjusted ROE = 100 × Adjusted net income ÷ Adjusted total equity
= 100 × 4,971 ÷ 37,015 = 13.43%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Phillips 66 adjusted ROE improved from 2017 to 2018 and from 2018 to 2019.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Reported
Selected Financial Data (US$ in millions)
Net income attributable to Phillips 66 3,076 5,595 5,106 1,555 4,227
Total assets 58,720 54,302 54,371 51,653 48,580
Profitability Ratio
ROA1 5.24% 10.30% 9.39% 3.01% 8.70%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2 4,971 4,643 4,732 3,891 2,925
Adjusted total assets3 63,013 58,566 60,217 56,267 51,530
Profitability Ratio
Adjusted ROA4 7.89% 7.93% 7.86% 6.92% 5.68%

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).

1 2019 Calculation
ROA = 100 × Net income attributable to Phillips 66 ÷ Total assets
= 100 × 3,076 ÷ 58,720 = 5.24%

2 Adjusted net income. See details »

3 Adjusted total assets. See details »

4 2019 Calculation
Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × 4,971 ÷ 63,013 = 7.89%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Phillips 66 adjusted ROA improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.