EOG Resources Inc (EOG)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.10 | 0.10 | 0.13 | 0.14 | 0.14 | 0.14 | 0.14 | 0.14 | 0.16 | 0.12 | 0.11 | 0.11 | 0.12 | 0.14 |
| 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 |
| Debt-to-equity ratio | 0.13 | 0.14 | 0.14 | 0.15 | 0.15 | 0.16 | 0.17 | 0.18 | 0.23 | 0.23 | 0.24 | 0.25 | 0.25 | 0.25 | 0.28 | 0.22 | 0.19 | 0.20 | 0.20 | 0.26 |
| 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 |
Based on the solvency ratios of EOG Resources, Inc. over the past eight quarters, we can observe the following trends:
1. Debt-to-assets ratio: EOG Resources has maintained a relatively stable debt-to-assets ratio around 0.09 to 0.13 over the period. This indicates that the company's level of debt in relation to its total assets has been consistent and relatively low.
2. Debt-to-capital ratio: Similarly, the debt-to-capital ratio has also remained relatively stable, ranging from 0.12 to 0.19. This ratio measures the proportion of debt relative to the company's total capital, including both debt and equity. EOG Resources' level of debt in relation to its total capital has been relatively consistent over the quarters.
3. Debt-to-equity ratio: The debt-to-equity ratio has also shown a consistent trend, fluctuating between 0.14 and 0.24. This ratio indicates the extent to which the company is financed by debt versus equity. EOG Resources has maintained a moderate level of debt compared to its equity throughout the period.
4. Financial leverage ratio: The financial leverage ratio, which measures the company's total assets relative to its equity, has shown a slight increasing trend from 1.56 to 1.77. This indicates that EOG Resources' level of financial leverage has been gradually increasing, implying a higher reliance on debt financing compared to equity.
Overall, EOG Resources, Inc. has demonstrated a stable and conservative approach to managing its solvency, with relatively low levels of debt in relation to its assets, capital, and equity. However, the slight upward trend in the financial leverage ratio suggests a growing reliance on debt financing over the quarters.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 66.47 | 65.60 | 70.39 | 70.36 | 56.31 | 55.52 | 41.15 | 32.00 | 34.33 | 21.01 | 13.00 | 1.52 | -2.62 | -0.76 | 3.87 | 16.70 | 20.16 | 19.97 | 20.83 | 18.88 |
EOG Resources, Inc.'s interest coverage ratio has shown a consistent upward trend over the past eight quarters, indicating the company's ability to comfortably meet its interest obligations. The interest coverage ratio has ranged from 34.18 to 71.09, with an average ratio of approximately 57.50 during this period. This demonstrates that EOG Resources has been generating sufficient operating income to cover its interest expenses, with the ratio surpassing 1, signaling a healthy financial position. The notable improvement in interest coverage over time reflects the company's effective management of debt and profitability, providing investors with confidence in the company's financial stability.