Phillips 66 (PSX)


Short-term (Operating) Activity Analysis
Quarterly Data

Difficulty: Beginner


Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Turnover Ratios
Inventory turnover 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 20.59 25.55 29.40 41.27
Receivables turnover 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 25.97 23.56 30.47 25.56
Payables turnover 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 14.69 13.60 17.59 18.72
Working capital turnover 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 18.15 19.61 22.88 28.78
Average No. of Days
Average inventory processing period 18 19 13 20 19 20 15 21 21 22 17 22 22 21 16 18 14 12 9
Add: Average receivable collection period 19 21 18 22 20 19 23 21 19 20 24 18 19 16 16 14 15 12 14
Operating cycle 37 40 31 42 39 39 38 42 40 42 41 40 41 37 32 32 29 24 23
Less: Average payables payment period 26 30 22 30 32 28 31 30 29 29 35 33 35 25 24 25 27 21 19
Cash conversion cycle 11 10 9 12 7 11 7 12 11 13 6 7 6 12 8 7 2 3 4

Based on: 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), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-10-30), 10-Q (filing date: 2014-07-31), 10-Q (filing date: 2014-05-01).

Ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Phillips 66’s inventory turnover deteriorated from Q4 2018 to Q1 2019 but then slightly improved from Q1 2019 to Q2 2019.
Receivables turnover An activity ratio equal to revenue divided by receivables. Phillips 66’s receivables turnover deteriorated from Q4 2018 to Q1 2019 but then improved from Q1 2019 to Q2 2019 not reaching Q4 2018 level.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Phillips 66’s payables turnover declined from Q4 2018 to Q1 2019 but then slightly increased from Q1 2019 to Q2 2019.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Phillips 66’s working capital turnover improved from Q4 2018 to Q1 2019 and from Q1 2019 to Q2 2019.

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 average inventory processing period deteriorated from Q4 2018 to Q1 2019 but then slightly improved from Q1 2019 to Q2 2019.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Phillips 66’s average receivable collection period deteriorated from Q4 2018 to Q1 2019 but then improved from Q1 2019 to Q2 2019 not reaching Q4 2018 level.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Phillips 66’s operating cycle deteriorated from Q4 2018 to Q1 2019 but then slightly improved from Q1 2019 to Q2 2019.
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 Q4 2018 to Q1 2019 and from Q1 2019 to Q2 2019.

Inventory Turnover

Phillips 66, inventory turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (USD $ in millions)
Cost of operating revenues 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  29,613  34,706  40,393  35,471 
Inventories 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  3,397  5,673  4,928  5,908 
Ratio
Inventory turnover1 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 20.59 25.55 29.40 41.27
Benchmarks
Inventory Turnover, Competitors2
Chevron Corp. 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 15.02 16.47 19.12 22.28
ConocoPhillips 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 20.02 19.21 21.92 23.30
EOG Resources Inc. 2.98 2.92 2.87 3.04 3.23 3.49 4.00 5.48 5.58 5.82 5.18 4.29 3.84 3.73 3.64 3.55 3.75 3.35 3.59
Exxon Mobil Corp. 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 11.16 12.85 14.92 16.00
Occidental Petroleum Corp. 4.09 4.41 5.21 5.89 4.09 5.23 4.49 5.56 6.06 5.31 5.99 5.63 5.84 5.54 5.89 5.51 5.81 5.93 6.47

Based on: 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), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-10-30), 10-Q (filing date: 2014-07-31), 10-Q (filing date: 2014-05-01).

1 Q2 2019 Calculation
Inventory turnover = (Cost of operating revenuesQ2 2019 + Cost of operating revenuesQ1 2019 + Cost of operating revenuesQ4 2018 + Cost of operating revenuesQ3 2018) ÷ Inventories
= (25,719 + 22,362 + 25,945 + 27,591) ÷ 5,093 = 19.95

2 Click competitor name to see calculations.

Ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Phillips 66’s inventory turnover deteriorated from Q4 2018 to Q1 2019 but then slightly improved from Q1 2019 to Q2 2019.

Receivables Turnover

Phillips 66, receivables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (USD $ in millions)
Sales and other operating revenues 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  34,963  40,417  45,549  40,283 
Accounts and notes receivable, net of allowances 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  6,306  7,043  7,925  7,298 
Ratio
Receivables turnover1 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 25.97 23.56 30.47 25.56
Benchmarks
Receivables Turnover, Competitors2
Chevron Corp. 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 10.11 10.10 11.93 11.98
ConocoPhillips 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 7.96 7.79 8.54 7.87
EOG Resources Inc. 9.05 8.01 9.02 7.46 7.29 7.21 7.02 8.26 8.74 7.50 6.29 7.66 7.59 9.98 9.41 10.33 11.15 12.85 10.14
Occidental Petroleum Corp. 3.49 3.40 3.64 2.76 2.60 2.57 3.02 3.15 2.93 2.53 2.53 2.87 3.40 4.14 4.20 3.99 3.97 5.68 4.59

Based on: 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), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-10-30), 10-Q (filing date: 2014-07-31), 10-Q (filing date: 2014-05-01).

1 Q2 2019 Calculation
Receivables turnover = (Sales and other operating revenuesQ2 2019 + Sales and other operating revenuesQ1 2019 + Sales and other operating revenuesQ4 2018 + Sales and other operating revenuesQ3 2018) ÷ Accounts and notes receivable, net of allowances
= (27,847 + 23,103 + 29,098 + 29,788) ÷ 5,748 = 19.11

2 Click competitor name to see calculations.

Ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Phillips 66’s receivables turnover deteriorated from Q4 2018 to Q1 2019 but then improved from Q1 2019 to Q2 2019 not reaching Q4 2018 level.

Payables Turnover

Phillips 66, payables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (USD $ in millions)
Cost of operating revenues 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  29,613  34,706  40,393  35,471 
Accounts payable 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  7,488  10,381  11,529  11,390 
Ratio
Payables turnover1 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 14.69 13.60 17.59 18.72
Benchmarks
Payables Turnover, Competitors2
Chevron Corp. 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 6.73 6.74 7.85 7.63
ConocoPhillips 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 4.42 4.21 4.03 3.88
EOG Resources Inc. 1.07 1.02 1.10 0.96 0.93 1.06 1.05 1.15 1.16 1.17 1.20 1.42 1.46 1.70 1.48 1.50 1.33 1.17 0.89
Occidental Petroleum Corp. 1.19 1.25 1.34 1.09 1.02 1.09 1.27 1.50 1.46 1.31 1.32 1.54 1.69 1.97 1.89 1.66 1.57 1.74 1.30

Based on: 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), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-10-30), 10-Q (filing date: 2014-07-31), 10-Q (filing date: 2014-05-01).

1 Q2 2019 Calculation
Payables turnover = (Cost of operating revenuesQ2 2019 + Cost of operating revenuesQ1 2019 + Cost of operating revenuesQ4 2018 + Cost of operating revenuesQ3 2018) ÷ Accounts payable
= (25,719 + 22,362 + 25,945 + 27,591) ÷ 7,300 = 13.92

2 Click competitor name to see calculations.

Ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Phillips 66’s payables turnover declined from Q4 2018 to Q1 2019 but then slightly increased from Q1 2019 to Q2 2019.

Working Capital Turnover

Phillips 66, working capital turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (USD $ in millions)
Current assets 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  16,696  18,194  20,605  21,059 
Less: Current liabilities 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  11,094  13,769  15,120  15,164 
Working capital 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  5,602  4,425  5,485  5,895 
Sales and other operating revenues 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  34,963  40,417  45,549  40,283 
Ratio
Working capital turnover1 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 18.15 19.61 22.88 28.78
Benchmarks
Working Capital Turnover, Competitors2
Chevron Corp. 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 14.89 13.08 15.38 19.45
ConocoPhillips 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 25.04 12.24 35.10 14.88
EOG Resources Inc. 222.34 29.10 13.00 40.93 16.41 20.25 17.59 14.74 6.54 5.01 7.01 9.62 9.53 11.33 14.92 9.97 9.58 8.88
Exxon Mobil Corp.
Occidental Petroleum Corp. 11.91 10.42 7.07 6.04 4.92 7.30 14.38 17.28 6.80 7.88 4.88 3.34 2.85 8.16 4.88 4.50 4.95 4.95 3.43

Based on: 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), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-10-30), 10-Q (filing date: 2014-07-31), 10-Q (filing date: 2014-05-01).

1 Q2 2019 Calculation
Working capital turnover = (Sales and other operating revenuesQ2 2019 + Sales and other operating revenuesQ1 2019 + Sales and other operating revenuesQ4 2018 + Sales and other operating revenuesQ3 2018) ÷ Working capital
= (27,847 + 23,103 + 29,098 + 29,788) ÷ 3,124 = 35.16

2 Click competitor name to see calculations.

Ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Phillips 66’s working capital turnover improved from Q4 2018 to Q1 2019 and from Q1 2019 to Q2 2019.

Average Inventory Processing Period

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

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data
Inventory turnover 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 20.59 25.55 29.40 41.27
Ratio (no. of days)
Average inventory processing period1 18 19 13 20 19 20 15 21 21 22 17 22 22 21 16 18 14 12 9
Benchmarks (no. of days)
Average Inventory Processing Period, Competitors2
Chevron Corp. 23 22 18 20 23 23 21 23 25 25 25 28 29 27 25 24 22 19 16
ConocoPhillips 21 19 19 24 22 21 22 22 21 24 24 26 26 22 21 18 19 17 16
EOG Resources Inc. 122 125 127 120 113 105 91 67 65 63 70 85 95 98 100 103 97 109 102
Exxon Mobil Corp. 36 35 36 36 37 39 38 40 37 37 40 41 41 39 36 33 28 24 23
Occidental Petroleum Corp. 89 83 70 62 89 70 81 66 60 69 61 65 62 66 62 66 63 62 56

Based on: 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), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-10-30), 10-Q (filing date: 2014-07-31), 10-Q (filing date: 2014-05-01).

1 Q2 2019 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 19.95 = 18

2 Click competitor name to see calculations.

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 average inventory processing period deteriorated from Q4 2018 to Q1 2019 but then slightly improved from Q1 2019 to Q2 2019.

Average Receivable Collection Period

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

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data
Receivables turnover 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 25.97 23.56 30.47 25.56
Ratio (no. of days)
Average receivable collection period1 19 21 18 22 20 19 23 21 19 20 24 18 19 16 16 14 15 12 14
Benchmarks (no. of days)
Average Receivable Collection Period, Competitors2
Chevron Corp. 34 35 35 40 41 41 42 40 39 42 47 42 44 38 36 36 36 31 30
ConocoPhillips 35 37 39 45 43 48 52 42 40 43 50 50 48 51 53 46 47 43 46
EOG Resources Inc. 40 46 40 49 50 51 52 44 42 49 58 48 48 37 39 35 33 28 36
Occidental Petroleum Corp. 105 107 100 132 141 142 121 116 125 144 144 127 107 88 87 92 92 64 79

Based on: 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), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-10-30), 10-Q (filing date: 2014-07-31), 10-Q (filing date: 2014-05-01).

1 Q2 2019 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 19.11 = 19

2 Click competitor name to see calculations.

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 average receivable collection period deteriorated from Q4 2018 to Q1 2019 but then improved from Q1 2019 to Q2 2019 not reaching Q4 2018 level.

Operating Cycle

Phillips 66, operating cycle calculation (quarterly data)

No. of days

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data
Average inventory processing period 18 19 13 20 19 20 15 21 21 22 17 22 22 21 16 18 14 12 9
Average receivable collection period 19 21 18 22 20 19 23 21 19 20 24 18 19 16 16 14 15 12 14
Ratio
Operating cycle1 37 40 31 42 39 39 38 42 40 42 41 40 41 37 32 32 29 24 23
Benchmarks
Operating Cycle, Competitors2
Chevron Corp. 57 57 53 60 64 64 63 63 64 67 72 70 73 65 61 60 58 50 46
ConocoPhillips 56 56 58 69 65 69 74 64 61 67 74 76 74 73 74 64 66 60 62
EOG Resources Inc. 162 171 167 169 163 156 143 111 107 112 128 133 143 135 139 138 130 137 138
Occidental Petroleum Corp. 194 190 170 194 230 212 202 182 185 213 205 192 169 154 149 158 155 126 135

Based on: 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), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-10-30), 10-Q (filing date: 2014-07-31), 10-Q (filing date: 2014-05-01).

1 Q2 2019 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 18 + 19 = 37

2 Click competitor name to see calculations.

Ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Phillips 66’s operating cycle deteriorated from Q4 2018 to Q1 2019 but then slightly improved from Q1 2019 to Q2 2019.

Average Payables Payment Period

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

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data
Payables turnover 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 14.69 13.60 17.59 18.72
Ratio (no. of days)
Average payables payment period1 26 30 22 30 32 28 31 30 29 29 35 33 35 25 24 25 27 21 19
Benchmarks (no. of days)
Average Payables Payment Period, Competitors2
Chevron Corp. 49 46 44 50 54 53 56 52 50 56 64 57 61 53 53 54 54 46 48
ConocoPhillips 68 71 72 75 73 77 83 72 71 77 85 86 83 83 92 82 87 91 94
EOG Resources Inc. 342 356 331 382 394 343 349 317 314 311 304 257 250 214 247 243 275 311 412
Occidental Petroleum Corp. 307 293 271 335 359 334 288 244 250 279 276 237 216 185 193 220 233 210 281

Based on: 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), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-10-30), 10-Q (filing date: 2014-07-31), 10-Q (filing date: 2014-05-01).

1 Q2 2019 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 13.92 = 26

2 Click competitor name to see calculations.

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. of days

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data
Average inventory processing period 18 19 13 20 19 20 15 21 21 22 17 22 22 21 16 18 14 12 9
Average receivable collection period 19 21 18 22 20 19 23 21 19 20 24 18 19 16 16 14 15 12 14
Average payables payment period 26 30 22 30 32 28 31 30 29 29 35 33 35 25 24 25 27 21 19
Ratio
Cash conversion cycle1 11 10 9 12 7 11 7 12 11 13 6 7 6 12 8 7 2 3 4
Benchmarks
Cash Conversion Cycle, Competitors2
Chevron Corp. 8 11 9 10 10 11 7 11 14 11 8 13 12 12 8 6 4 4 -2
ConocoPhillips -12 -15 -14 -6 -8 -8 -9 -8 -10 -10 -11 -10 -9 -10 -18 -18 -21 -31 -32
EOG Resources Inc. -180 -185 -164 -213 -231 -187 -206 -206 -207 -199 -176 -124 -107 -79 -108 -105 -145 -174 -274
Occidental Petroleum Corp. -113 -103 -101 -141 -129 -122 -86 -62 -65 -66 -71 -45 -47 -31 -44 -62 -78 -84 -146

Based on: 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), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-10-30), 10-Q (filing date: 2014-07-31), 10-Q (filing date: 2014-05-01).

1 Q2 2019 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 18 + 1926 = 11

2 Click competitor name to see calculations.

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 Q4 2018 to Q1 2019 and from Q1 2019 to Q2 2019.