Devon Energy Corporation (DVN)

Financial leverage 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
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
Total stockholders’ equity	US$ in thousands	14,496,000	14,277,000	12,551,000	12,167,000	12,061,000	11,639,000	11,021,000	10,977,000	11,167,000	10,873,000	10,090,000	9,300,000	9,262,000	8,924,000	8,399,000	8,353,000	2,885,000	3,023,000	3,227,000	3,919,000
Financial leverage ratio		2.10	2.12	2.00	2.05	2.03	2.08	2.12	2.13	2.12	2.17	2.30	2.34	2.27	2.36	2.39	2.45	3.44	3.42	3.21	2.84

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $30,489,000K ÷ $14,496,000K
= 2.10

The financial leverage ratio of Devon Energy Corporation has been fluctuating over the period from March 31, 2020, to December 31, 2024. The ratio started at 2.84 on March 31, 2020, increased to 3.44 by December 31, 2020, and then showed a decreasing trend until reaching 2.03 by December 31, 2023. However, it slightly increased to 2.10 by December 31, 2024. Overall, the trend indicates a moderate level of leverage in the company's capital structure, with the ratio ranging between 2.00 and 3.44 over the period under consideration. This suggests that Devon Energy Corporation relies on a mix of debt and equity to finance its operations, with a reasonable level of leverage compared to its equity, which can provide both financial flexibility and risk.