EOG Resources Inc (EOG)

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	3,765,000	3,772,000	3,780,000	3,787,000	3,795,000	3,802,000	3,809,000	3,816,000	5,072,000	5,079,000	5,086,000	5,094,000	5,035,000	4,949,900	5,703,140	4,703,150	4,160,920	4,163,120	4,165,280	5,166,050
Total stockholders’ equity	US$ in thousands	28,090,000	27,758,000	26,257,000	25,447,000	24,779,000	23,849,000	22,312,000	21,540,000	22,180,000	21,765,000	20,881,000	20,762,000	20,302,000	20,148,300	20,387,600	21,470,700	21,640,000	21,124,300	20,630,300	19,903,800
Debt-to-capital ratio		0.12	0.12	0.13	0.13	0.13	0.14	0.15	0.15	0.19	0.19	0.20	0.20	0.20	0.20	0.22	0.18	0.16	0.16	0.17	0.21

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $3,765,000K ÷ ($3,765,000K + $28,090,000K)
= 0.12

The debt-to-capital ratio of EOG Resources, Inc. has shown a consistent downward trend over the past eight quarters, indicating a favorable financial position in terms of leverage. The ratio has decreased from 0.19 in Q1 2022 to 0.12 in Q4 2023. This implies that EOG Resources, Inc. has been reducing its reliance on debt financing in relation to its capital structure. A lower debt-to-capital ratio suggests a lower financial risk and a solid ability to meet its debt obligations. This downward trend in the debt-to-capital ratio is a positive sign for potential investors and creditors, indicating a stronger financial position for the company.