$6.2 B

PSXP Mkt cap, 15-Feb-2019

$384 M

Phillips 66 Partners Revenue Q3, 2018
Phillips 66 Partners Net income (Q3, 2018)217 M
Phillips 66 Partners Cash, 30-Sep-2018100 M
Phillips 66 Partners EV9 B

Phillips 66 Partners Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

229.1m5.0m873.0m1.2b

Revenue growth, %

115%(98%)520%

General and administrative expense

65.0m69.0m

Operating expense total

463.0m641.0m

Depreciation and amortization

96.0m116.0m

EBIT

119.9m(77.1m)

EBIT margin, %

52%(1542%)

Pre tax profit

125.2m194.5m410.0m528.0m

Income tax expense

800.0k300.0k2.0m4.0m

Net Income

124.4m194.2m408.0m524.0m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q1, 2015Q2, 2015Q1, 2016Q2, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

56.9m70.1m121.2m140.4m234.0m234.0m245.0m355.0m354.0m384.0m

General and administrative expense

5.4m7.4m8.9m7.8m16.0m16.0m16.0m16.0m16.0m16.0m

Operating expense total

24.6m34.5m60.8m66.8m137.0m130.0m146.0m181.0m168.0m167.0m

Depreciation and amortization

26.0m26.0m30.0m28.0m29.0m30.0m

Pre tax profit

32.3m35.6m60.4m73.6m97.0m104.0m99.0m174.0m186.0m217.0m

Income tax expense

200.0k200.0k200.0k400.0k1.0m2.0m2.0m

Net Income

11.9m28.0m32.1m35.4m42.0m60.2m73.2m97.0m103.0m99.0m172.0m186.0m217.0m

Phillips 66 Partners Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

425.1m8.3m48.0m2.0m185.0m

Accounts Receivable

Inventories

600.0k2.2m2.5m11.0m12.0m

Current Assets

439.4m36.2m77.4m100.0m292.0m

Goodwill

2.5m2.5m2.5m185.0m185.0m

Total Assets

584.2m539.5m1.5b4.1b5.3b

Accounts Payable

Short-term debt

Current Liabilities

9.6m33.7m37.7m111.0m171.0m

Long-term debt

18.0m1.1b2.4b2.9b

Total Debt

1.1b2.4b2.9b

Total Liabilities

1.1b2.5b3.2b

Total Equity

574.1m72.2m390.1m1.6b2.2b

Debt to Equity Ratio

1.5 x

Debt to Assets Ratio

0.6 x

Financial Leverage

1 x7.5 x3.9 x2.6 x2.5 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

421.6m43.0m137.6m104.3m35.7m19.0m1.0m1.0m2.0m167.0m151.0m100.0m

Inventories

600.0k2.0m2.0m2.0m2.3m2.5m5.5m12.0m12.0m12.0m13.0m13.0m12.0m

Current Assets

434.6m67.0m170.1m133.5m83.6m88.0m94.0m87.0m283.0m263.0m239.0m

Goodwill

2.5m2.5m2.5m2.5m185.0m185.0m185.0m185.0m185.0m185.0m

Total Assets

578.6m1.5b1.5b1.5b2.8b4.1b4.2b4.2b5.4b5.5b5.6b

Current Liabilities

10.1m31.3m40.6m61.6m104.0m133.0m135.0m186.0m210.0m238.0m

Long-term debt

1.1b1.1b1.1b2.4b2.2b2.3b2.9b2.9b2.9b

Total Debt

1.1b1.1b1.1b1.1b1.1b1.1b2.4b2.2b2.3b2.9b2.9b2.9b

Total Liabilities

10.5m1.1b1.1b1.4b1.4b2.5b2.4b2.4b3.2b3.2b3.2b

Total Equity

568.1m173.0m318.6m324.4m1.3b1.6b1.8b1.8b2.2b2.3b2.4b

Debt to Equity Ratio

1.4 x1.3 x1.3 x1.3 x1.3 x1.2 x

Debt to Assets Ratio

0.7 x0.6 x0.5 x0.5 x0.5 x0.5 x0.5 x

Financial Leverage

1 x4.6 x4.5 x2.1 x2.5 x2.4 x2.4 x2.4 x2.4 x2.3 x

Phillips 66 Partners Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

60.7m124.4m194.2m408.0m524.0m

Depreciation and Amortization

16.2m21.8m96.0m116.0m

Accounts Receivable

(11.0m)(11.0m)(1.7m)(58.0m)(4.0m)

Inventories

Accounts Payable

6.6m9.4m(8.4m)19.0m14.0m

Cash From Operating Activities

60.3m142.4m229.8m492.0m724.0m

Purchases of PP&E

(138.0m)

Cash From Investing Activities

(6.4m)(315.3m)(934.9m)(1.6b)(782.0m)

Long-term Borrowings

(498.6m)(1.1b)(2.2b)

Cash From Financing Activities

371.2m(243.9m)744.8m1.0b241.0m

Free Cash Flow

66.9m299.3m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Net Income

43.7m28.0m89.5m35.4m77.4m60.2m221.0m97.0m200.0m299.0m172.0m358.0m575.0m

Depreciation and Amortization

4.7m11.5m5.1m10.4m13.8m26.0m52.0m82.0m28.0m57.0m87.0m

Accounts Receivable

(9.2m)(7.3m)(4.5m)(900.0k)(11.9m)10.0m6.0m13.0m(5.0m)(3.0m)(9.0m)

Accounts Payable

7.4m(3.5m)(3.2m)(4.5m)5.9m(1.0m)(2.0m)(4.0m)(3.0m)8.0m

Cash From Operating Activities

43.5m95.7m31.4m96.8m66.7m166.0m139.0m270.0m422.0m171.0m397.0m652.0m

Cash From Investing Activities

(4.2m)(151.7m)(772.7m)(833.3m)(73.5m)(49.0m)(111.0m)(199.0m)(60.0m)(212.0m)(382.0m)

Long-term Borrowings

498.6m(498.6m)(85.9m)(234.0m)(686.0m)(765.0m)(1.3b)(1.5b)(110.0m)

Cash From Financing Activities

382.3m(326.1m)870.6m832.5m791.0m(23.4m)(91.0m)(160.0m)(223.0m)(129.0m)(219.0m)(355.0m)

Free Cash Flow

39.3m82.9m

Phillips 66 Partners Ratios

USDY, 2018

EV/CFO

13.8 x

Debt/Equity

1.2 x

Debt/Assets

0.5 x

Financial Leverage

2.3 x
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