EQT Corporation (EQT)

Debt-to-equity ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Long-term debt	US$ in thousands	9,003,380	13,393,400	4,945,400	4,897,770	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
Total stockholders’ equity	US$ in thousands	20,597,600	20,334,800	15,117,800	15,164,200	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
Debt-to-equity ratio		0.44	0.66	0.33	0.32	0.37	0.39	0.35	0.42	0.47	0.45	0.51	0.00	0.46	0.09	0.00	0.03	0.52	0.03	0.00	0.08

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 fluctuations over the past few years. It stood at 0.08 as of March 31, 2020, indicating a relatively low level of debt compared to equity. The ratio dropped to 0.00 as of June 30, 2020, which could suggest a significant decrease in debt or an increase in equity during that period. Subsequently, the ratio increased to 0.52 as of December 31, 2020, signifying a higher level of debt relative to equity.

Throughout 2021 and the first half of 2022, the debt-to-equity ratio fluctuated between 0.00 and 0.51, indicating varying levels of debt and equity during this period. As of September 30, 2022, the ratio was at 0.45, and by December 31, 2022, it increased slightly to 0.47.

In the following quarters of 2023, the ratio continued to fluctuate but generally remained within the range of 0.32 to 0.42, indicating a moderate level of debt relative to equity. As of December 31, 2024, the ratio spiked to 0.44, signifying an increase in debt compared to equity. Notably, as of September 30, 2024, the ratio reached its peak at 0.66, indicating a comparatively high level of debt relative to equity during that period.

Overall, the debt-to-equity ratio of EQT Corporation has shown variability over the analyzed periods, with some quarters reflecting a higher reliance on debt financing compared to equity. Investors and stakeholders may consider monitoring this ratio to assess the company's leverage and financial risk profile.