Devon Energy Corporation (DVN)

Debt-to-assets 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	5,672,000	5,675,000	6,169,000	6,175,000	6,189,000	6,196,000	6,461,000	6,471,000	6,482,000	6,492,000	6,502,000	7,042,000	4,298,000	4,297,000	4,296,000	4,295,000	4,294,000	4,295,000	4,294,000	5,786,000
Total assets	US$ in thousands	24,490,000	24,241,000	23,355,000	23,420,000	23,721,000	23,557,000	23,194,000	21,778,000	21,025,000	21,057,000	20,065,000	20,457,000	9,912,000	10,326,000	10,357,000	11,144,000	13,717,000	14,394,000	16,649,000	18,077,000
Debt-to-assets ratio		0.23	0.23	0.26	0.26	0.26	0.26	0.28	0.30	0.31	0.31	0.32	0.34	0.43	0.42	0.41	0.39	0.31	0.30	0.26	0.32

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $5,672,000K ÷ $24,490,000K
= 0.23

The debt-to-assets ratio of Devon Energy Corp. has been relatively stable over the past eight quarters, ranging from 0.26 to 0.31. This ratio indicates that, on average, between 26% and 31% of the company's total assets are financed through debt. A lower debt-to-assets ratio is generally considered favorable as it suggests lower financial risk and greater financial stability. However, the company's ratios of around 0.26 to 0.31 indicate a moderate level of debt compared to its total assets. It is important for stakeholders to monitor this ratio over time to ensure the company maintains a healthy balance between debt and assets.