EQT Corporation (EQT)

Debt-to-equity ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Long-term debt	US$ in thousands	9,003,380	5,502,680	5,256,330	4,530,100	4,771,300
Total stockholders’ equity	US$ in thousands	20,597,600	14,773,200	11,172,500	9,954,760	9,255,240
Debt-to-equity ratio		0.44	0.37	0.47	0.46	0.52

December 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $9,003,380K ÷ $20,597,600K
= 0.44

The debt-to-equity ratio of EQT Corporation has shown a fluctuating trend in the recent years. It decreased from 0.52 in December 2020 to 0.46 in December 2021, suggesting a reduction in the company's reliance on debt to finance its operations relative to its equity. However, the ratio slightly increased to 0.47 in December 2022 before experiencing a significant drop to 0.37 in December 2023. This notable decline indicates an enhanced financial strength and a lower level of financial risk for the company during that period. Subsequently, the ratio rose to 0.44 by December 2024, signifying a moderate increase in the company's debt utilization compared to the previous year. Overall, the trend in EQT Corporation's debt-to-equity ratio demonstrates a mix of fluctuations and improvements, showcasing the company's management of its capital structure over the years.