CVR Energy Inc (CVI)

Debt-to-capital ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	2,100,000	—	—	—	1,400,000	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	847,000	957,000	755,000	675,000	531,000	560,000	769,000	644,000	553,000	567,000	483,000	981,000	1,019,000	1,084,000	1,180,000	1,225,000	1,393,000	1,429,000	1,384,000	1,343,000
Debt-to-capital ratio		0.71	0.00	0.00	0.00	0.73	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	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)
= $2,100,000K ÷ ($2,100,000K + $847,000K)
= 0.71

The debt-to-capital ratio for CVR Energy Inc has fluctuated over the past eight quarters, ranging from 0.62 to 0.75. A decreasing trend in the ratio from Q4 2022 to Q3 2023 indicates a potential improvement in the company's capital structure, as it signifies a lower reliance on debt financing relative to total capital. However, the ratio increased in Q2 2023 before declining again in Q3 2023, suggesting some volatility in the company's debt and capital levels.

Overall, CVR Energy Inc's debt-to-capital ratio has remained relatively stable around the 0.7 mark over the period analyzed. This indicates that a significant portion of the company's capital structure is funded by debt, which may be a strategic choice to leverage financial resources for growth or operational needs.
Investors and stakeholders should continue to monitor the trend in the debt-to-capital ratio to assess the company's financial risk and leverage position effectively.