Diamondback Energy Inc (FANG)
Debt-to-assets 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 | 6,641,000 | 6,230,000 | 6,543,000 | 6,950,000 | 6,238,000 | 5,347,000 | 5,401,000 | 5,803,000 | 6,642,000 | 6,925,000 | 7,360,000 | 7,465,000 | 5,624,000 | 5,656,000 | 5,952,000 | 5,677,000 | 5,371,000 | 4,761,000 | 4,472,000 | 4,670,000 |
| Total assets | US$ in thousands | 29,001,000 | 28,049,000 | 27,587,000 | 27,589,000 | 26,209,000 | 23,843,000 | 23,448,000 | 23,331,000 | 22,898,000 | 22,639,000 | 22,898,000 | 21,996,000 | 17,619,000 | 18,760,000 | 20,337,000 | 23,386,000 | 23,531,000 | 23,553,000 | 23,531,000 | 23,531,000 |
| Debt-to-assets ratio | 0.23 | 0.22 | 0.24 | 0.25 | 0.24 | 0.22 | 0.23 | 0.25 | 0.29 | 0.31 | 0.32 | 0.34 | 0.32 | 0.30 | 0.29 | 0.24 | 0.23 | 0.20 | 0.19 | 0.20 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $6,641,000K ÷ $29,001,000K
= 0.23
Diamondback Energy Inc's debt-to-assets ratio has shown relatively consistent trends over the past eight quarters, ranging from 0.22 to 0.25. The ratio indicates that, on average, around 23% to 25% of the company's total assets have been financed by debt during this period.
The slight fluctuations in the ratio suggest that Diamondback Energy has maintained a moderate level of leverage and has been able to effectively manage its debt levels relative to its asset base. This implies a balanced approach to financing its operations, ensuring a healthy mix of debt and equity to support its growth and operations.
Overall, the stability of the debt-to-assets ratio indicates that Diamondback Energy has been prudent in its capital structure management, maintaining a reasonable level of debt while still retaining a significant portion of assets financed by equity. This analysis suggests that the company has been able to maintain financial stability and leverage its assets effectively to support its operations and growth strategy.
Peer comparison
Dec 31, 2023