Phillips 66 Partners LP (Phillips 66 Partners LP) Debt-to-Equity : 1.47 (As of Dec. 2021)

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What is Phillips 66 Partners LP Debt-to-Equity?

Phillips 66 Partners LP's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2021 was $450 Mil. Phillips 66 Partners LP's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2021 was $3,447 Mil. Phillips 66 Partners LP's Total Stockholders Equity for the quarter that ended in Dec. 2021 was $2,660 Mil. Phillips 66 Partners LP's debt to equity for the quarter that ended in Dec. 2021 was 1.47.

A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.

The historical rank and industry rank for Phillips 66 Partners LP's Debt-to-Equity or its related term are showing as below:

PSXP' s Debt-to-Equity Range Over the Past 10 Years
Min: 1.22 Med: 1.41 Max: 5.95
Current: 1.47

During the past 11 years, the highest Debt-to-Equity Ratio of Phillips 66 Partners LP was 5.95. The lowest was 1.22. And the median was 1.41.

PSXP's Debt-to-Equity is not ranked
in the Oil & Gas industry.
Industry Median: 0.44 vs PSXP: 1.47

Phillips 66 Partners LP Debt-to-Equity Historical Data

The historical data trend for Phillips 66 Partners LP's Debt-to-Equity can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Phillips 66 Partners LP Debt-to-Equity Chart

Phillips 66 Partners LP Annual Data

Trend

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Debt-to-Equity

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1.36

1.22

1.24

1.40

1.47

Phillips 66 Partners LP Quarterly Data
	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21
Debt-to-Equity	Get a 7-Day Free Trial															1.40	1.54	1.53	1.51	1.47

Competitive Comparison of Phillips 66 Partners LP's Debt-to-Equity

For the Oil & Gas Midstream subindustry, Phillips 66 Partners LP's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Phillips 66 Partners LP's Debt-to-Equity Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Phillips 66 Partners LP's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where Phillips 66 Partners LP's Debt-to-Equity falls into.

Phillips 66 Partners LP Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Phillips 66 Partners LP's Debt to Equity Ratio for the fiscal year that ended in Dec. 2021 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(450	+	3447)	/	2660
	=	1.47

Phillips 66 Partners LP's Debt to Equity Ratio for the quarter that ended in Dec. 2021 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(450	+	3447)	/	2660
	=	1.47

Phillips 66 Partners LP (NYSE:PSXP) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.

Be Aware

Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.

Phillips 66 Partners LP Debt-to-Equity Related Terms

Thank you for viewing the detailed overview of Phillips 66 Partners LP's Debt-to-Equity provided by GuruFocus.com. Please click on the following links to see related term pages.

Phillips 66 Partners LP (Phillips 66 Partners LP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Phillips 66 Partners LP (NYSE:PSXP) » Definitions » Debt-to-Equity

Comparable Companies

TCP DCP AM PAGP ENBL ETRN NS HEP VNOM FRO TSX:ENB EPD TSX:TRP KMI WMB ET MPLX CQP OKE TSX:PPL

Traded in Other Exchanges

N/A

Address

2331 CityWest Boulevard, Houston, TX, USA, 77042

Website

https://www.phillips66partners.com

Phillips 66 Partners is a master limited partnership that provides fee-based transportation, processing, storage, and fractionation services primarily to Phillips 66, which owns a 74% limited partner interest. Phillips 66 Partners' primary revenue sources are long-term, fee-based contracts to handle crude, natural gas liquids, and refined products. Phillips 66 manages and operates Phillips 66 Partners as its noneconomic general partner. Phillips 66's general partner economic interest and incentive distribution rights were eliminated in August 2019.

Executives

Mark Haney	director	3010 BRIARPARK DRIVE, HOUSTON TX 77042
Phillip David Bairrington	director	C/O PHILLIPS 66 CORPORATE LEGAL, N13 2331 CITYWEST BLVD. HOUSTON TX 77042
Paula Ann Johnson	director	600 N. DAIRY ASHFORD, HOUSTON TX 77079
Charles Douglas Johnson	director	600 N. DAIRY ASHFORD, HOUSTON TX 77079
66 Phillips	director, 10 percent owner	2331 CITYWEST BLVD., HOUSTON TX 77042
Phillips 66 Co	director, 10 percent owner	2331 CITYWEST BLVD., HOUSTON TX 77042
Phillips 66 Project Development Inc.	director, 10 percent owner	P.O. BOX 4428, HOUSTON TX 77210
Kevin J Mitchell	director, officer: Vice President & CFO	3010 BRIARPARK DRIVE, HOUSTON TX 77042
Rosy Zuklic	officer: VP & Chief Operating Officer	2331 CITYWEST BLVD. HOUSTON TX 77042
Gary Kramer Adams	director	15624 BUMBLE BEE LANE, ROGERS AR 72758
Timothy Garth Taylor	director, officer: President	P.O. BOX 268836, OKLAHOMA CITY OK 73102
Timothy D. Roberts	director	C/O PHILLIPS 66 PARTNERS LP, 3010 BRIARPARK DRIVE, HOUSTON TX 77042
Chukwuemeka A. Oyolu	officer: Vice President & Controller	3010 BRIARPARK DRIVE, HOUSTON TX 77042
J. T. Liberti	officer: VP and Chief Operating Officer	3010 BRIARPARK DRIVE HOUSTON TX 77042
Robert A Herman	director	3010 BRIARPARK DRIVE, 9TH FLOOR, HOUSTON TX 77042