EQT Corporation (EQT)

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	5,502,680	5,501,270	4,257,640	5,058,560	5,256,330	4,347,330	4,601,170	26,000	4,530,100	704,000	0	300,000	4,771,300	244,500	38,000	799,574	5,276,780	3,800,000	3,900,000	4,600,000
Total stockholders’ equity	US$ in thousands	14,773,200	14,201,300	12,005,800	12,112,100	11,172,500	9,618,960	9,061,190	8,188,670	9,954,760	8,248,460	8,291,760	9,219,640	9,255,240	8,845,810	9,438,830	9,633,880	9,803,590	10,897,600	11,248,500	11,139,600
Debt-to-capital ratio		0.27	0.28	0.26	0.29	0.32	0.31	0.34	0.00	0.31	0.08	0.00	0.03	0.34	0.03	0.00	0.08	0.35	0.26	0.26	0.29

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 been relatively stable over the past eight quarters, ranging from 0.28 to 0.38. This ratio indicates the proportion of the company's total debt to its total capital, which includes both debt and equity.

A decreasing trend in the debt-to-capital ratio, as seen over the quarters from Q4 2022 to Q1 2023, suggests that EQT Corp may be reducing its reliance on debt financing in favor of equity financing. Conversely, an increasing trend, as seen in the quarters from Q1 2023 to Q4 2022, may indicate a higher level of debt compared to capital.

The current ratio of 0.28 in Q4 2023 is relatively lower compared to the previous quarters, which can suggest a lower level of debt relative to total capital. This could indicate a healthier financial position where the company is less reliant on debt to fund its operations or growth initiatives.

Overall, monitoring the debt-to-capital ratio can provide insights into EQT Corp's capital structure, financial risk, and its ability to meet debt obligations. It is essential for stakeholders to assess this ratio in conjunction with other financial metrics to gain a comprehensive understanding of the company's financial health.