Diamondback Energy Inc (FANG)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	16,625,000	16,280,000	15,554,000	15,464,000	15,009,000	13,843,000	13,316,000	12,743,000	12,088,000	11,483,000	10,926,000	10,673,000	8,794,000	9,552,000	10,714,000	12,826,000	13,249,000	14,050,000	14,004,000	13,773,000
Debt-to-capital ratio		0.29	0.28	0.30	0.31	0.29	0.28	0.29	0.31	0.35	0.38	0.40	0.41	0.39	0.37	0.36	0.31	0.29	0.25	0.24	0.25

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $6,641,000K ÷ ($6,641,000K + $16,625,000K)
= 0.29

The debt-to-capital ratio of Diamondback Energy Inc has fluctuated slightly over the past eight quarters, ranging from 0.28 to 0.31. Generally, the company has maintained a moderate level of debt relative to its total capital structure, with the ratio typically hovering around 0.29. This indicates that Diamondback Energy relies more on equity financing rather than debt financing to fund its operations and investments. The stability of the debt-to-capital ratio suggests that the company has been managing its debt levels effectively and maintaining a balanced capital structure. Overall, the trend in the debt-to-capital ratio reflects a prudent approach to financial management by Diamondback Energy Inc.