EQT Corporation (EQT)

Financial leverage ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Total assets	US$ in thousands	39,830,300	25,285,100	22,669,900	21,607,400	18,113,500
Total stockholders’ equity	US$ in thousands	20,597,600	14,773,200	11,172,500	9,954,760	9,255,240
Financial leverage ratio		1.93	1.71	2.03	2.17	1.96

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $39,830,300K ÷ $20,597,600K
= 1.93

The financial leverage ratio of EQT Corporation has fluctuated over the past five years.

As of December 31, 2020, the financial leverage ratio stood at 1.96, indicating that the company had a higher proportion of debt in its capital structure compared to equity.

This ratio increased to 2.17 by December 31, 2021, suggesting a further increase in debt relative to equity.

By December 31, 2022, the financial leverage ratio decreased to 2.03, which could indicate a slight reduction in the company's reliance on debt financing.

However, the ratio dropped significantly to 1.71 by December 31, 2023, signifying a decrease in the proportion of debt in the company's capital structure.

Subsequently, by December 31, 2024, the financial leverage ratio rose to 1.93, indicating a slight increase in the company's reliance on debt financing once again.

Overall, the trend in EQT Corporation's financial leverage ratio suggests fluctuations in the company's use of debt relative to equity over the five-year period.