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.

Analysis of Solvency Ratios

Microsoft Excel

Solvency Ratios (Summary)

Phillips 66, solvency ratios

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Debt Ratios
Debt to equity 0.47 0.45 0.40 0.45 0.38
Debt to equity (including operating lease liability) 0.52 0.45 0.40 0.45 0.38
Debt to capital 0.32 0.31 0.29 0.31 0.28
Debt to capital (including operating lease liability) 0.34 0.31 0.29 0.31 0.28
Debt to assets 0.20 0.21 0.19 0.20 0.18
Debt to assets (including operating lease liability) 0.22 0.21 0.19 0.20 0.18
Financial leverage 2.36 2.20 2.17 2.31 2.10
Coverage Ratios
Interest coverage 10.12 15.77 9.12 7.48 20.50
Fixed charge coverage 5.22 7.35 4.18 3.18 7.36

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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Phillips 66 debt to equity ratio deteriorated from 2017 to 2018 and from 2018 to 2019.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Phillips 66 debt to equity ratio (including operating lease liability) deteriorated from 2017 to 2018 and from 2018 to 2019.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Phillips 66 debt to capital ratio deteriorated from 2017 to 2018 and from 2018 to 2019.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Phillips 66 debt to capital ratio (including operating lease liability) deteriorated from 2017 to 2018 and from 2018 to 2019.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Phillips 66 debt to assets ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Phillips 66 debt to assets ratio (including operating lease liability) deteriorated from 2017 to 2018 and from 2018 to 2019.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Phillips 66 financial leverage ratio increased from 2017 to 2018 and from 2018 to 2019.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Phillips 66 interest coverage ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Phillips 66 fixed charge coverage ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.

Debt to Equity

Phillips 66, debt to equity calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Short-term debt 547 67 41 550 44
Long-term debt 11,216 11,093 10,069 9,588 8,843
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
Benchmarks
Debt to Equity, Competitors2
Chevron Corp. 0.19
ConocoPhillips 0.43
Exxon Mobil Corp. 0.24
Marathon Petroleum Corp. 0.86
Occidental Petroleum Corp. 1.13
Pioneer Natural Resources Co. 0.24
Valero Energy Corp. 0.44
Debt to Equity, Sector
Oil, Gas & Consumable Fuels 0.36
Debt to Equity, Industry
Energy 0.37

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 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Phillips 66 debt to equity ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Debt to Equity (including Operating Lease Liability)

Phillips 66, debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Short-term debt 547 67 41 550 44
Long-term debt 11,216 11,093 10,069 9,588 8,843
Total debt 11,763 11,160 10,110 10,138 8,887
Operating lease liabilities (included in Other accruals) 455
Operating lease liabilities (included in Other liabilities and deferred credits) 806
Total debt (including operating lease liability) 13,024 11,160 10,110 10,138 8,887
 
Stockholders’ equity 24,910 24,653 25,085 22,390 23,100
Solvency Ratio
Debt to equity (including operating lease liability)1 0.52 0.45 0.40 0.45 0.38
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Chevron Corp. 0.21
ConocoPhillips 0.45
Exxon Mobil Corp. 0.27
Marathon Petroleum Corp. 0.93
Occidental Petroleum Corp. 1.17
Pioneer Natural Resources Co. 0.26
Valero Energy Corp. 0.50
Debt to Equity (including Operating Lease Liability), Sector
Oil, Gas & Consumable Fuels 0.39
Debt to Equity (including Operating Lease Liability), Industry
Energy 0.41

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 (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= 13,024 ÷ 24,910 = 0.52

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Phillips 66 debt to equity ratio (including operating lease liability) deteriorated from 2017 to 2018 and from 2018 to 2019.

Debt to Capital

Phillips 66, debt to capital calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Short-term debt 547 67 41 550 44
Long-term debt 11,216 11,093 10,069 9,588 8,843
Total debt 11,763 11,160 10,110 10,138 8,887
Stockholders’ equity 24,910 24,653 25,085 22,390 23,100
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
Benchmarks
Debt to Capital, Competitors2
Chevron Corp. 0.16
ConocoPhillips 0.30
Exxon Mobil Corp. 0.20
Marathon Petroleum Corp. 0.46
Occidental Petroleum Corp. 0.53
Pioneer Natural Resources Co. 0.19
Valero Energy Corp. 0.31
Debt to Capital, Sector
Oil, Gas & Consumable Fuels 0.26
Debt to Capital, Industry
Energy 0.27

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 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Phillips 66 debt to capital ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Debt to Capital (including Operating Lease Liability)

Phillips 66, debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Short-term debt 547 67 41 550 44
Long-term debt 11,216 11,093 10,069 9,588 8,843
Total debt 11,763 11,160 10,110 10,138 8,887
Operating lease liabilities (included in Other accruals) 455
Operating lease liabilities (included in Other liabilities and deferred credits) 806
Total debt (including operating lease liability) 13,024 11,160 10,110 10,138 8,887
Stockholders’ equity 24,910 24,653 25,085 22,390 23,100
Total capital (including operating lease liability) 37,934 35,813 35,195 32,528 31,987
Solvency Ratio
Debt to capital (including operating lease liability)1 0.34 0.31 0.29 0.31 0.28
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Chevron Corp. 0.18
ConocoPhillips 0.31
Exxon Mobil Corp. 0.22
Marathon Petroleum Corp. 0.48
Occidental Petroleum Corp. 0.54
Pioneer Natural Resources Co. 0.21
Valero Energy Corp. 0.33
Debt to Capital (including Operating Lease Liability), Sector
Oil, Gas & Consumable Fuels 0.28
Debt to Capital (including Operating Lease Liability), Industry
Energy 0.29

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 (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 13,024 ÷ 37,934 = 0.34

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Phillips 66 debt to capital ratio (including operating lease liability) deteriorated from 2017 to 2018 and from 2018 to 2019.

Debt to Assets

Phillips 66, debt to assets calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Short-term debt 547 67 41 550 44
Long-term debt 11,216 11,093 10,069 9,588 8,843
Total debt 11,763 11,160 10,110 10,138 8,887
 
Total assets 58,720 54,302 54,371 51,653 48,580
Solvency Ratio
Debt to assets1 0.20 0.21 0.19 0.20 0.18
Benchmarks
Debt to Assets, Competitors2
Chevron Corp. 0.11
ConocoPhillips 0.21
Exxon Mobil Corp. 0.13
Marathon Petroleum Corp. 0.29
Occidental Petroleum Corp. 0.35
Pioneer Natural Resources Co. 0.15
Valero Energy Corp. 0.18
Debt to Assets, Sector
Oil, Gas & Consumable Fuels 0.18
Debt to Assets, Industry
Energy 0.18

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 assets = Total debt ÷ Total assets
= 11,763 ÷ 58,720 = 0.20

2 Click competitor name to see calculations.

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

Debt to Assets (including Operating Lease Liability)

Phillips 66, debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Short-term debt 547 67 41 550 44
Long-term debt 11,216 11,093 10,069 9,588 8,843
Total debt 11,763 11,160 10,110 10,138 8,887
Operating lease liabilities (included in Other accruals) 455
Operating lease liabilities (included in Other liabilities and deferred credits) 806
Total debt (including operating lease liability) 13,024 11,160 10,110 10,138 8,887
 
Total assets 58,720 54,302 54,371 51,653 48,580
Solvency Ratio
Debt to assets (including operating lease liability)1 0.22 0.21 0.19 0.20 0.18
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Chevron Corp. 0.13
ConocoPhillips 0.22
Exxon Mobil Corp. 0.15
Marathon Petroleum Corp. 0.32
Occidental Petroleum Corp. 0.37
Pioneer Natural Resources Co. 0.17
Valero Energy Corp. 0.20
Debt to Assets (including Operating Lease Liability), Sector
Oil, Gas & Consumable Fuels 0.19
Debt to Assets (including Operating Lease Liability), Industry
Energy 0.20

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 assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 13,024 ÷ 58,720 = 0.22

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Phillips 66 debt to assets ratio (including operating lease liability) deteriorated from 2017 to 2018 and from 2018 to 2019.

Financial Leverage

Phillips 66, financial leverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
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
Benchmarks
Financial Leverage, Competitors2
Chevron Corp. 1.65
ConocoPhillips 2.02
Exxon Mobil Corp. 1.89
Marathon Petroleum Corp. 2.93
Occidental Petroleum Corp. 3.19
Pioneer Natural Resources Co. 1.57
Valero Energy Corp. 2.47
Financial Leverage, Sector
Oil, Gas & Consumable Fuels 2.01
Financial Leverage, Industry
Energy 2.03

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 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Phillips 66 financial leverage ratio increased from 2017 to 2018 and from 2018 to 2019.

Interest Coverage

Phillips 66, interest coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net income attributable to Phillips 66 3,076 5,595 5,106 1,555 4,227
Add: Net income attributable to noncontrolling interest 301 278 142 89 53
Add: Income tax expense 801 1,572 (1,693) 547 1,764
Add: Interest and debt expense 458 504 438 338 310
Earnings before interest and tax (EBIT) 4,636 7,949 3,993 2,529 6,354
Solvency Ratio
Interest coverage1 10.12 15.77 9.12 7.48 20.50
Benchmarks
Interest Coverage, Competitors2
Chevron Corp. 7.94
ConocoPhillips 13.24
Exxon Mobil Corp. 25.16
Marathon Petroleum Corp. 4.50
Occidental Petroleum Corp. 1.17
Pioneer Natural Resources Co. 9.16
Valero Energy Corp. 8.68
Interest Coverage, Sector
Oil, Gas & Consumable Fuels 9.35
Interest Coverage, Industry
Energy 6.72

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
Interest coverage = EBIT ÷ Interest expense
= 4,636 ÷ 458 = 10.12

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Phillips 66 interest coverage ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.

Fixed Charge Coverage

Phillips 66, fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net income attributable to Phillips 66 3,076 5,595 5,106 1,555 4,227
Add: Net income attributable to noncontrolling interest 301 278 142 89 53
Add: Income tax expense 801 1,572 (1,693) 547 1,764
Add: Interest and debt expense 458 504 438 338 310
Earnings before interest and tax (EBIT) 4,636 7,949 3,993 2,529 6,354
Add: Operating lease cost 531 669 680 669 641
Earnings before fixed charges and tax 5,167 8,618 4,673 3,198 6,995
 
Interest and debt expense 458 504 438 338 310
Operating lease cost 531 669 680 669 641
Fixed charges 989 1,173 1,118 1,007 951
Solvency Ratio
Fixed charge coverage1 5.22 7.35 4.18 3.18 7.36
Benchmarks
Fixed Charge Coverage, Competitors2
Chevron Corp. 2.62
ConocoPhillips 9.51
Exxon Mobil Corp. 5.66
Marathon Petroleum Corp. 3.13
Occidental Petroleum Corp. 0.91
Pioneer Natural Resources Co. 4.07
Valero Energy Corp. 4.90
Fixed Charge Coverage, Sector
Oil, Gas & Consumable Fuels 4.02
Fixed Charge Coverage, Industry
Energy 2.98

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
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 5,167 ÷ 989 = 5.22

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Phillips 66 fixed charge coverage ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.