Expand Energy Corporation (EXE)

Financial leverage 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
Total assets	US$ in thousands	27,894,000	13,392,000	13,608,000	14,018,000	14,376,000	14,248,000	14,429,000	14,591,000	15,726,000	14,089,000	13,899,000	13,293,000	11,009,000	7,326,000	6,999,000	6,904,000	6,584,000	6,903,000	6,553,000	7,808,000
Total stockholders’ equity	US$ in thousands	17,565,000	10,188,000	10,370,000	10,682,000	10,729,000	10,268,000	10,396,000	10,283,000	9,124,000	6,347,000	5,808,000	5,383,000	5,671,000	3,038,000	3,413,000	3,881,000	-5,341,000	-4,940,000	-4,209,000	-3,945,000
Financial leverage ratio		1.59	1.31	1.31	1.31	1.34	1.39	1.39	1.42	1.72	2.22	2.39	2.47	1.94	2.41	2.05	1.78	—	—	—	—

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $27,894,000K ÷ $17,565,000K
= 1.59

The financial leverage ratio of Expand Energy Corporation has shown fluctuations over the periods reported. The ratio increased from 1.78 as of March 31, 2021, to a peak of 2.47 as of March 31, 2022, indicating an increase in the company's financial leverage during that time frame. This rise in leverage suggests that the company relied more on debt financing to support its operations or growth initiatives.

Subsequently, the ratio decreased to 1.31 as of June 30, 2024, before increasing slightly to 1.59 by the end of December 31, 2024. These fluctuations in the financial leverage ratio may indicate changes in the company's capital structure and its ability to meet debt obligations.

A financial leverage ratio above 1 indicates that the company has more debt than equity in its capital structure, which can amplify returns for shareholders in good times but may pose increased financial risk in challenging economic conditions. It is important for stakeholders to monitor the trend of this ratio to assess the company's risk profile and financial stability.