ConocoPhillips (COP)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total assets | US$ in thousands | 95,924,000 | 93,829,000 | 90,661,000 | 62,618,000 | 70,514,000 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $95,924,000K
= 0.00
Conoco Phillips' debt-to-assets ratio has fluctuated over the past five years, indicating changes in the company's leverage and financial risk. The ratio was 0.20 as of December 31, 2023, which is slightly higher compared to the previous year at 0.18. This suggests that the company's level of debt in relation to its total assets increased slightly in 2023.
Looking back, there was a decrease in the debt-to-assets ratio from 0.25 in 2020 to 0.21 in 2019, followed by an increase to 0.22 in 2021 before decreasing again in 2022. These fluctuations may indicate changes in Conoco Phillips' capital structure and debt management strategies over the years.
Overall, the trend in the debt-to-assets ratio for Conoco Phillips shows some variability, but the company has generally maintained a relatively conservative level of debt compared to its total assets. It is important to continue monitoring this ratio to assess the company's financial health and risk management practices.
Peer comparison
Dec 31, 2023