Stock Analysis on Net
Stock Analysis on Net

Phillips 66 (NYSE:PSX)

This company was transferred to the archive: financial data is no longer updated!

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Beginner level

Short-term Activity Ratios (Summary)

Phillips 66, short-term (operating) activity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Turnover Ratios
Inventory turnover 26.64 17.94 19.95 19.23 29.02 18.39 19.37 18.46 24.77 17.65 17.68 16.58 21.19 16.42 16.72 17.74 22.34
Receivables turnover 14.55 17.59 19.11 17.14 20.59 16.39 17.97 19.09 15.93 17.71 19.37 18.03 15.37 20.18 18.86 23.45 22.44
Payables turnover 12.51 12.80 13.92 12.37 16.82 12.07 11.25 13.00 11.61 12.28 12.74 12.48 10.44 11.12 10.56 14.39 15.07
Working capital turnover 39.03 30.35 35.16 31.82 26.08 33.57 37.92 35.67 23.90 31.68 25.68 26.09 26.20 44.41 38.76 24.65 20.95
Average No. Days
Average inventory processing period 14 20 18 19 13 20 19 20 15 21 21 22 17 22 22 21 16
Add: Average receivable collection period 25 21 19 21 18 22 20 19 23 21 19 20 24 18 19 16 16
Operating cycle 39 41 37 40 31 42 39 39 38 42 40 42 41 40 41 37 32
Less: Average payables payment period 29 29 26 30 22 30 32 28 31 30 29 29 35 33 35 25 24
Cash conversion cycle 10 12 11 10 9 12 7 11 7 12 11 13 6 7 6 12 8

Based on: 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Phillips 66’s inventory turnover ratio deteriorated from Q2 2019 to Q3 2019 but then improved from Q3 2019 to Q4 2019 exceeding Q2 2019 level.
Receivables turnover An activity ratio equal to revenue divided by receivables. Phillips 66’s receivables turnover ratio deteriorated from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Phillips 66’s payables turnover ratio decreased from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Phillips 66’s working capital turnover ratio deteriorated from Q2 2019 to Q3 2019 but then improved from Q3 2019 to Q4 2019 exceeding Q2 2019 level.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Phillips 66’s number of days of inventory outstanding deteriorated from Q2 2019 to Q3 2019 but then improved from Q3 2019 to Q4 2019 exceeding Q2 2019 level.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Phillips 66’s number of days of receivables outstanding deteriorated from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.
Operating cycle Equal to average inventory processing period plus average receivables collection period.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Phillips 66’s cash conversion cycle deteriorated from Q2 2019 to Q3 2019 but then improved from Q3 2019 to Q4 2019 exceeding Q2 2019 level.

Inventory Turnover

Phillips 66, inventory turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Cost of operating revenues 27,510  25,012  25,719  22,362  25,945  27,591  26,890  22,384  25,072  20,597  19,490  18,949  19,576  17,022  17,192  12,953  16,945  19,663  23,296  17,789 
Inventories 3,776  5,521  5,093  5,344  3,543  5,544  4,901  4,743  3,395  4,455  4,245  4,387  3,150  3,905  3,993  4,108  3,477  4,388  4,126  4,166 
Short-term Activity Ratio
Inventory turnover1 26.64 17.94 19.95 19.23 29.02 18.39 19.37 18.46 24.77 17.65 17.68 16.58 21.19 16.42 16.72 17.74 22.34
Benchmarks
Inventory Turnover, Competitors2
Chevron Corp. 17.36 17.71 16.13 16.92 20.18 18.56 15.95 16.15 17.05 15.79 14.45 14.38 14.69 13.05 12.53 13.34 14.65
ConocoPhillips 16.73 19.30 17.71 19.30 19.37 15.27 16.63 17.14 16.65 16.79 17.04 15.10 15.38 14.12 14.26 16.77 17.30
Exxon Mobil Corp. 9.75 10.42 10.09 10.47 10.17 10.22 9.77 9.36 9.55 9.17 9.76 9.82 9.03 8.86 8.89 9.40 10.19

Based on: 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q4 2019 Calculation
Inventory turnover = (Cost of operating revenuesQ4 2019 + Cost of operating revenuesQ3 2019 + Cost of operating revenuesQ2 2019 + Cost of operating revenuesQ1 2019) ÷ Inventories
= (27,510 + 25,012 + 25,719 + 22,362) ÷ 3,776 = 26.64

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Phillips 66’s inventory turnover ratio deteriorated from Q2 2019 to Q3 2019 but then improved from Q3 2019 to Q4 2019 exceeding Q2 2019 level.

Receivables Turnover

Phillips 66, receivables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Sales and other operating revenues 29,125  27,218  27,847  23,103  29,098  29,788  28,980  23,595  29,746  25,627  24,087  22,894  23,397  21,624  21,849  17,409  21,893  25,792  28,512  22,778 
Accounts and notes receivable, net of allowances 7,376  6,097  5,748  6,476  5,414  6,840  6,006  5,399  6,424  5,421  4,750  4,979  5,485  4,101  4,610  3,991  4,411  4,315  5,377  4,717 
Short-term Activity Ratio
Receivables turnover1 14.55 17.59 19.11 17.14 20.59 16.39 17.97 19.09 15.93 17.71 19.37 18.03 15.37 20.18 18.86 23.45 22.44
Benchmarks
Receivables Turnover, Competitors2
Chevron Corp. 10.50 11.23 10.63 10.53 10.56 9.23 8.80 8.82 8.77 9.09 9.39 8.63 7.82 8.63 8.28 9.69 10.10
ConocoPhillips 9.97 9.93 10.38 9.93 9.29 8.07 8.56 7.54 6.96 8.63 9.11 8.40 7.29 7.33 7.64 7.19 6.85

Based on: 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q4 2019 Calculation
Receivables turnover = (Sales and other operating revenuesQ4 2019 + Sales and other operating revenuesQ3 2019 + Sales and other operating revenuesQ2 2019 + Sales and other operating revenuesQ1 2019) ÷ Accounts and notes receivable, net of allowances
= (29,125 + 27,218 + 27,847 + 23,103) ÷ 7,376 = 14.55

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Phillips 66’s receivables turnover ratio deteriorated from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.

Payables Turnover

Phillips 66, payables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Cost of operating revenues 27,510  25,012  25,719  22,362  25,945  27,591  26,890  22,384  25,072  20,597  19,490  18,949  19,576  17,022  17,192  12,953  16,945  19,663  23,296  17,789 
Accounts payable 8,043  7,738  7,300  8,310  6,113  8,444  8,437  6,736  7,242  6,404  5,891  5,829  6,395  5,767  6,319  5,063  5,155  6,151  7,749  6,965 
Short-term Activity Ratio
Payables turnover1 12.51 12.80 13.92 12.37 16.82 12.07 11.25 13.00 11.61 12.28 12.74 12.48 10.44 11.12 10.56 14.39 15.07
Benchmarks
Payables Turnover, Competitors2
Chevron Corp. 7.20 7.97 7.42 8.00 8.25 7.30 6.74 6.84 6.54 6.95 7.28 6.51 5.69 6.39 6.00 6.84 6.86
ConocoPhillips 5.40 5.85 5.33 5.13 5.05 4.87 4.99 4.72 4.40 5.08 5.11 4.74 4.31 4.24 4.38 4.40 3.97

Based on: 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q4 2019 Calculation
Payables turnover = (Cost of operating revenuesQ4 2019 + Cost of operating revenuesQ3 2019 + Cost of operating revenuesQ2 2019 + Cost of operating revenuesQ1 2019) ÷ Accounts payable
= (27,510 + 25,012 + 25,719 + 22,362) ÷ 8,043 = 12.51

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Phillips 66’s payables turnover ratio decreased from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.

Working Capital Turnover

Phillips 66, working capital turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Current assets 14,395  15,617  14,295  14,815  13,209  15,314  14,579  12,125  14,390  12,935  12,456  12,170  12,680  11,964  12,643  11,216  12,256  15,049  16,534  16,144 
Less: Current liabilities 11,646  12,083  11,171  11,328  8,935  11,974  11,732  9,236  10,107  9,905  8,874  8,730  9,463  10,100  10,400  7,419  7,531  8,875  10,075  9,864 
Working capital 2,749  3,534  3,124  3,487  4,274  3,340  2,847  2,889  4,283  3,030  3,582  3,440  3,217  1,864  2,243  3,797  4,725  6,174  6,459  6,280 
 
Sales and other operating revenues 29,125  27,218  27,847  23,103  29,098  29,788  28,980  23,595  29,746  25,627  24,087  22,894  23,397  21,624  21,849  17,409  21,893  25,792  28,512  22,778 
Short-term Activity Ratio
Working capital turnover1 39.03 30.35 35.16 31.82 26.08 33.57 37.92 35.67 23.90 31.68 25.68 26.09 26.20 44.41 38.76 24.65 20.95
Benchmarks
Working Capital Turnover, Competitors2
Chevron Corp. 77.75 38.78 35.92 42.24 23.20 24.21 61.29 126.93 163.64 109.31 103.91 26.18 14.81 47.31 14.63
ConocoPhillips 3.30 3.72 5.32 5.82 6.19 4.76 6.46 5.00 4.09 2.83 2.77 8.15 13.94 11.02 12.57 12.79
Exxon Mobil Corp.

Based on: 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q4 2019 Calculation
Working capital turnover = (Sales and other operating revenuesQ4 2019 + Sales and other operating revenuesQ3 2019 + Sales and other operating revenuesQ2 2019 + Sales and other operating revenuesQ1 2019) ÷ Working capital
= (29,125 + 27,218 + 27,847 + 23,103) ÷ 2,749 = 39.03

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Phillips 66’s working capital turnover ratio deteriorated from Q2 2019 to Q3 2019 but then improved from Q3 2019 to Q4 2019 exceeding Q2 2019 level.

Average Inventory Processing Period

Phillips 66, average inventory processing period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data
Inventory turnover 26.64 17.94 19.95 19.23 29.02 18.39 19.37 18.46 24.77 17.65 17.68 16.58 21.19 16.42 16.72 17.74 22.34
Short-term Activity Ratio (no. days)
Average inventory processing period1 14 20 18 19 13 20 19 20 15 21 21 22 17 22 22 21 16
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Chevron Corp. 21 21 23 22 18 20 23 23 21 23 25 25 25 28 29 27 25
ConocoPhillips 22 19 21 19 19 24 22 21 22 22 21 24 24 26 26 22 21
Exxon Mobil Corp. 37 35 36 35 36 36 37 39 38 40 37 37 40 41 41 39 36

Based on: 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q4 2019 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 26.64 = 14

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Phillips 66’s number of days of inventory outstanding deteriorated from Q2 2019 to Q3 2019 but then improved from Q3 2019 to Q4 2019 exceeding Q2 2019 level.

Average Receivable Collection Period

Phillips 66, average receivable collection period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data
Receivables turnover 14.55 17.59 19.11 17.14 20.59 16.39 17.97 19.09 15.93 17.71 19.37 18.03 15.37 20.18 18.86 23.45 22.44
Short-term Activity Ratio (no. days)
Average receivable collection period1 25 21 19 21 18 22 20 19 23 21 19 20 24 18 19 16 16
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Chevron Corp. 35 32 34 35 35 40 41 41 42 40 39 42 47 42 44 38 36
ConocoPhillips 37 37 35 37 39 45 43 48 52 42 40 43 50 50 48 51 53

Based on: 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q4 2019 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 14.55 = 25

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Phillips 66’s number of days of receivables outstanding deteriorated from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.

Operating Cycle

Phillips 66, operating cycle calculation (quarterly data)

No. days

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data
Average inventory processing period 14 20 18 19 13 20 19 20 15 21 21 22 17 22 22 21 16
Average receivable collection period 25 21 19 21 18 22 20 19 23 21 19 20 24 18 19 16 16
Short-term Activity Ratio
Operating cycle1 39 41 37 40 31 42 39 39 38 42 40 42 41 40 41 37 32
Benchmarks
Operating Cycle, Competitors2
Chevron Corp. 56 53 57 57 53 60 64 64 63 63 64 67 72 70 73 65 61
ConocoPhillips 59 56 56 56 58 69 65 69 74 64 61 67 74 76 74 73 74

Based on: 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q4 2019 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 14 + 25 = 39

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period.

Average Payables Payment Period

Phillips 66, average payables payment period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data
Payables turnover 12.51 12.80 13.92 12.37 16.82 12.07 11.25 13.00 11.61 12.28 12.74 12.48 10.44 11.12 10.56 14.39 15.07
Short-term Activity Ratio (no. days)
Average payables payment period1 29 29 26 30 22 30 32 28 31 30 29 29 35 33 35 25 24
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Chevron Corp. 51 46 49 46 44 50 54 53 56 52 50 56 64 57 61 53 53
ConocoPhillips 68 62 68 71 72 75 73 77 83 72 71 77 85 86 83 83 92

Based on: 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q4 2019 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 12.51 = 29

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.

Cash Conversion Cycle

Phillips 66, cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data
Average inventory processing period 14 20 18 19 13 20 19 20 15 21 21 22 17 22 22 21 16
Average receivable collection period 25 21 19 21 18 22 20 19 23 21 19 20 24 18 19 16 16
Average payables payment period 29 29 26 30 22 30 32 28 31 30 29 29 35 33 35 25 24
Short-term Activity Ratio
Cash conversion cycle1 10 12 11 10 9 12 7 11 7 12 11 13 6 7 6 12 8
Benchmarks
Cash Conversion Cycle, Competitors2
Chevron Corp. 5 7 8 11 9 10 10 11 7 11 14 11 8 13 12 12 8
ConocoPhillips -9 -6 -12 -15 -14 -6 -8 -8 -9 -8 -10 -10 -11 -10 -9 -10 -18

Based on: 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q4 2019 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 14 + 2529 = 10

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Phillips 66’s cash conversion cycle deteriorated from Q2 2019 to Q3 2019 but then improved from Q3 2019 to Q4 2019 exceeding Q2 2019 level.