EQT Corporation (EQT)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	5,502,680	5,256,330	4,530,100	4,771,300	5,276,780
Total stockholders’ equity	US$ in thousands	14,773,200	11,172,500	9,954,760	9,255,240	9,803,590
Debt-to-capital ratio		0.27	0.32	0.31	0.34	0.35

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $5,502,680K ÷ ($5,502,680K + $14,773,200K)
= 0.27

The debt-to-capital ratio of EQT Corp has shown a decreasing trend over the past five years. In 2023, the ratio stands at 0.28, indicating that 28% of the company's capital structure is funded by debt. This represents an improvement from the ratio of 0.34 in 2022, and a continuation of the declining trend from previous years (0.35 in 2021, 2020, and 2019).

The decreasing debt-to-capital ratio suggests that EQT Corp is becoming less reliant on debt financing and has been progressively shifting towards a more equity-funded capital structure. This trend may reflect the company's efforts to reduce financial risk, enhance financial stability, and improve its overall financial health.

Overall, the declining debt-to-capital ratio of EQT Corp over the years indicates a positive trend towards a more balanced and sustainable capital structure.