ConocoPhillips (COP)
Debt-to-capital ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 49,279,000 | 48,003,000 | 45,406,000 | 29,849,000 | 34,981,000 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $49,279,000K)
= 0.00
The debt-to-capital ratio of Conoco Phillips has shown variability over the past five years. The ratio decreased from 0.30 in 2019 to 0.26 in 2022, indicating a lower level of debt relative to total capital during that period. However, in 2023, the ratio slightly increased to 0.28. The highest ratio was observed in 2020 at 0.34, suggesting a higher reliance on debt financing compared to the other years.
Overall, the trend in the debt-to-capital ratio fluctuated between 0.26 and 0.34 over the five-year period, reflecting changes in the company's capital structure and debt management strategies. Despite minor fluctuations, the company has maintained a relatively stable level of debt in relation to its total capital, which indicates a balanced approach to financing its operations.
Peer comparison
Dec 31, 2023