Fluor Corporation (FLR)
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 | 1,158,000 | 1,425,000 | 979,000 | 978,000 | 978,000 | 980,000 | 980,000 | 982,000 | 1,174,000 | 1,170,540 | 1,678,740 | — | 1,701,100 | 1,677,160 | 1,654,830 | 1,647,170 | 1,651,740 | 1,636,900 | 1,657,250 | 1,650,930 |
| Total stockholders’ equity | US$ in thousands | 1,940,000 | 1,883,000 | 1,797,000 | 1,719,000 | 1,786,000 | 1,650,000 | 1,514,000 | 1,469,000 | 1,393,000 | 1,597,530 | 1,515,550 | 983,654 | 1,030,250 | 1,128,950 | 1,091,720 | 1,091,640 | 1,487,750 | 1,559,300 | 2,375,490 | 2,813,100 |
| Debt-to-capital ratio | 0.37 | 0.43 | 0.35 | 0.36 | 0.35 | 0.37 | 0.39 | 0.40 | 0.46 | 0.42 | 0.53 | 0.00 | 0.62 | 0.60 | 0.60 | 0.60 | 0.53 | 0.51 | 0.41 | 0.37 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,158,000K ÷ ($1,158,000K + $1,940,000K)
= 0.37
The debt-to-capital ratio of Fluor Corporation has shown some fluctuations over the past eight quarters. In Q1 and Q4 of 2023, the ratio stood at 0.37, indicating that debt comprised 37% of the company's capital structure in both quarters. This was a slight decrease from the ratio of 0.39 in Q4 2022.
The ratio further decreased to 0.36 in Q2 2023 before increasing to 0.43 in Q3 2023. This suggests that the company's reliance on debt relative to its total capital decreased in Q2 2023 but increased again in Q3 2023.
Looking back at earlier quarters, the debt-to-capital ratio was higher in Q1 2022 at 0.45 and reached a peak of 0.43 in Q3 2022 before showing a decreasing trend until Q1 2023.
Overall, while there have been fluctuations in Fluor Corporation's debt-to-capital ratio, it has generally remained within a range of 0.36 to 0.45 over the past two years, indicating a moderate level of debt utilization in the company's capital structure.
Peer comparison
Dec 31, 2023