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Microsoft Excel LibreOffice Calc

Phillips 66 (PSX)

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

Beginner level

Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Short-term Activity Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Turnover Ratios
Inventory turnover
Receivables turnover
Payables turnover
Working capital turnover
Average No. Days
Average inventory processing period
Add: Average receivable collection period
Operating cycle
Less: Average payables payment period
Cash conversion cycle

Based on: 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), 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).

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 improved from Q1 2019 to Q2 2019 but then deteriorated significantly from Q2 2019 to Q3 2019.
Receivables turnover An activity ratio equal to revenue divided by receivables. Phillips 66’s receivables turnover ratio improved from Q1 2019 to Q2 2019 but then slightly deteriorated from Q2 2019 to Q3 2019 not reaching Q1 2019 level.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Phillips 66’s payables turnover ratio increased from Q1 2019 to Q2 2019 but then slightly decreased from Q2 2019 to Q3 2019 not reaching Q1 2019 level.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Phillips 66’s working capital turnover ratio improved from Q1 2019 to Q2 2019 but then deteriorated significantly from Q2 2019 to Q3 2019.
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 improved from Q1 2019 to Q2 2019 but then deteriorated significantly from Q2 2019 to Q3 2019.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Phillips 66’s operating cycle improved from Q1 2019 to Q2 2019 but then deteriorated significantly from Q2 2019 to Q3 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. Phillips 66’s number of days of payables outstanding decreased from Q1 2019 to Q2 2019 but then increased from Q2 2019 to Q3 2019 not reaching Q1 2019 level.
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 Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

Inventory Turnover

Phillips 66, inventory turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in millions)
Cost of operating revenues
Inventories
Short-term Activity Ratio
Inventory turnover1
Benchmarks
Inventory Turnover, Competitors2
Chevron Corp.
ConocoPhillips
EOG Resources Inc.
Exxon Mobil Corp.

Based on: 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), 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 Q3 2019 Calculation
Inventory turnover = (Cost of operating revenuesQ3 2019 + Cost of operating revenuesQ2 2019 + Cost of operating revenuesQ1 2019 + Cost of operating revenuesQ4 2018) ÷ Inventories
= ( + + + ) ÷ =

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 improved from Q1 2019 to Q2 2019 but then deteriorated significantly from Q2 2019 to Q3 2019.

Receivables Turnover

Phillips 66, receivables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in millions)
Sales and other operating revenues
Accounts and notes receivable, net of allowances
Short-term Activity Ratio
Receivables turnover1
Benchmarks
Receivables Turnover, Competitors2
Chevron Corp.
ConocoPhillips
EOG Resources Inc.

Based on: 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), 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 Q3 2019 Calculation
Receivables turnover = (Sales and other operating revenuesQ3 2019 + Sales and other operating revenuesQ2 2019 + Sales and other operating revenuesQ1 2019 + Sales and other operating revenuesQ4 2018) ÷ Accounts and notes receivable, net of allowances
= ( + + + ) ÷ =

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 improved from Q1 2019 to Q2 2019 but then slightly deteriorated from Q2 2019 to Q3 2019 not reaching Q1 2019 level.

Payables Turnover

Phillips 66, payables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in millions)
Cost of operating revenues
Accounts payable
Short-term Activity Ratio
Payables turnover1
Benchmarks
Payables Turnover, Competitors2
Chevron Corp.
ConocoPhillips
EOG Resources Inc.

Based on: 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), 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 Q3 2019 Calculation
Payables turnover = (Cost of operating revenuesQ3 2019 + Cost of operating revenuesQ2 2019 + Cost of operating revenuesQ1 2019 + Cost of operating revenuesQ4 2018) ÷ Accounts payable
= ( + + + ) ÷ =

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 increased from Q1 2019 to Q2 2019 but then slightly decreased from Q2 2019 to Q3 2019 not reaching Q1 2019 level.

Working Capital Turnover

Phillips 66, working capital turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in millions)
Current assets
Less: Current liabilities
Working capital
 
Sales and other operating revenues
Short-term Activity Ratio
Working capital turnover1
Benchmarks
Working Capital Turnover, Competitors2
Chevron Corp.
ConocoPhillips
EOG Resources Inc.
Exxon Mobil Corp.

Based on: 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), 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 Q3 2019 Calculation
Working capital turnover = (Sales and other operating revenuesQ3 2019 + Sales and other operating revenuesQ2 2019 + Sales and other operating revenuesQ1 2019 + Sales and other operating revenuesQ4 2018) ÷ Working capital
= ( + + + ) ÷ =

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 improved from Q1 2019 to Q2 2019 but then deteriorated significantly from Q2 2019 to Q3 2019.

Average Inventory Processing Period

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

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data
Inventory turnover
Short-term Activity Ratio (no. days)
Average inventory processing period1
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Chevron Corp.
ConocoPhillips
EOG Resources Inc.
Exxon Mobil Corp.

Based on: 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), 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 Q3 2019 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ =

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 improved from Q1 2019 to Q2 2019 but then deteriorated significantly from Q2 2019 to Q3 2019.

Average Receivable Collection Period

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

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data
Receivables turnover
Short-term Activity Ratio (no. days)
Average receivable collection period1
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Chevron Corp.
ConocoPhillips
EOG Resources Inc.

Based on: 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), 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 Q3 2019 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ =

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.

Operating Cycle

Phillips 66, operating cycle calculation (quarterly data)

No. days

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data
Average inventory processing period
Average receivable collection period
Short-term Activity Ratio
Operating cycle1
Benchmarks
Operating Cycle, Competitors2
Chevron Corp.
ConocoPhillips
EOG Resources Inc.

Based on: 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), 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 Q3 2019 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= + =

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. Phillips 66’s operating cycle improved from Q1 2019 to Q2 2019 but then deteriorated significantly from Q2 2019 to Q3 2019.

Average Payables Payment Period

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

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data
Payables turnover
Short-term Activity Ratio (no. days)
Average payables payment period1
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Chevron Corp.
ConocoPhillips
EOG Resources Inc.

Based on: 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), 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 Q3 2019 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ =

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. Phillips 66’s number of days of payables outstanding decreased from Q1 2019 to Q2 2019 but then increased from Q2 2019 to Q3 2019 not reaching Q1 2019 level.

Cash Conversion Cycle

Phillips 66, cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel LibreOffice Calc
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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data
Average inventory processing period
Average receivable collection period
Average payables payment period
Short-term Activity Ratio
Cash conversion cycle1
Benchmarks
Cash Conversion Cycle, Competitors2
Chevron Corp.
ConocoPhillips
EOG Resources Inc.

Based on: 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), 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 Q3 2019 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= + – =

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 Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.