EOG Resources Inc (EOG)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 3,765,000 | 3,795,000 | 5,072,000 | 5,035,000 | 4,160,920 |
| Total assets | US$ in thousands | 43,857,000 | 41,371,000 | 38,236,000 | 35,805,000 | 37,125,000 |
| Debt-to-assets ratio | 0.09 | 0.09 | 0.13 | 0.14 | 0.11 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $3,765,000K ÷ $43,857,000K
= 0.09
The debt-to-assets ratio of EOG Resources, Inc. has shown a decreasing trend over the past five years, indicating a strengthening financial position in terms of leveraging.
As of December 31, 2023, the debt-to-assets ratio stands at 0.09, which means that only 9% of the company's total assets are financed by debt. This suggests that EOG Resources, Inc. relies less on debt financing and has a relatively strong asset base to cover its obligations.
Comparing this to previous years, the company's debt-to-assets ratio was 0.12 in 2022, 0.13 in 2021, 0.16 in 2020, and 0.14 in 2019. The downward trend indicates that EOG Resources, Inc. has been effectively reducing its reliance on debt to finance its operations and investments, which can be seen as a positive trend for investors and creditors.
Overall, the decreasing debt-to-assets ratio of EOG Resources, Inc. signifies a prudent approach to managing its financial leverage and indicates improved financial stability and solvency.
Peer comparison
Dec 31, 2023