EOG Resources Inc (EOG)

Financial leverage 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
Total assets	US$ in thousands	43,857,000	43,647,000	41,487,000	41,025,000	41,371,000	40,487,000	38,139,000	38,097,000	38,236,000	37,172,000	36,885,000	36,171,000	35,805,000	35,074,000	35,221,700	37,634,100	37,125,000	36,542,300	35,751,500	35,663,500
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
Financial leverage ratio		1.56	1.57	1.58	1.61	1.67	1.70	1.71	1.77	1.72	1.71	1.77	1.74	1.76	1.74	1.73	1.75	1.72	1.73	1.73	1.79

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $43,857,000K ÷ $28,090,000K
= 1.56

The financial leverage ratio of EOG Resources, Inc. has exhibited a declining trend over the past eight quarters, decreasing from 1.77 in Q1 2022 to 1.56 in Q4 2023. This downward trend indicates an improvement in the company's financial leverage position.

A financial leverage ratio of 1.56 in Q4 2023 suggests that EOG Resources, Inc. has $1.56 in debt for every $1 of equity, indicating that the company's operations are financed more by debt than equity. While the ratio has decreased over time, it still remains above 1, indicating that the company relies on debt to finance its operations.

Overall, the decreasing trend in the financial leverage ratio of EOG Resources, Inc. suggests that the company has been gradually reducing its reliance on debt to finance its operations, which could potentially lead to a more stable financial position in the future.