Devon Energy Corporation (DVN)

Debt-to-assets ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Long-term debt	US$ in thousands	8,398,000	8,884,000	5,665,000	5,668,000	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
Total assets	US$ in thousands	30,489,000	30,263,000	25,162,000	24,978,000	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
Debt-to-assets ratio		0.28	0.29	0.23	0.23	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

December 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $8,398,000K ÷ $30,489,000K
= 0.28

Based on the data provided, Devon Energy Corporation's debt-to-assets ratio has shown a declining trend from 0.39 as of March 31, 2020, to 0.28 as of June 30, 2024. This indicates that the company has been successful in reducing its reliance on debt to finance its assets over the period under review. A lower debt-to-assets ratio signifies that the company has a lower proportion of debt relative to its total assets, which may suggest a stronger financial position and lower financial risk. However, the slight increase in the ratio during the last two quarters of 2024 (0.29 and 0.28) warrants scrutiny to ensure that Devon Energy Corporation maintains a prudent level of debt relative to its asset base.