Fluor Corporation (FLR)
Debt-to-equity 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-equity ratio | 0.60 | 0.76 | 0.54 | 0.57 | 0.55 | 0.59 | 0.65 | 0.67 | 0.84 | 0.73 | 1.11 | 0.00 | 1.65 | 1.49 | 1.52 | 1.51 | 1.11 | 1.05 | 0.70 | 0.59 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,158,000K ÷ $1,940,000K
= 0.60
The debt-to-equity ratio of Fluor Corporation has shown some variability over the past eight quarters. In Q1 2022, the ratio was relatively high at 0.81, indicating a higher proportion of debt compared to equity. Subsequently, the ratio decreased in the following quarters, reaching a low of 0.55 in Q2 2023, suggesting a more conservative financial structure with lower debt levels relative to equity.
However, the ratio increased to 0.60 in Q4 2023, indicating a slight uptick in the proportion of debt compared to equity. Overall, the trend indicates fluctuations in the company's capital structure, with a general downward trend in the debt-to-equity ratio over the period analyzed.
It is important to assess the context and reasons behind these fluctuations to understand the implications for Fluor Corporation's financial health and risk profile in terms of leveraging debt to support its operations and growth initiatives. Additionally, comparing these ratios with industry benchmarks and competitors can provide further insights into the company's financial leverage position.
Peer comparison
Dec 31, 2023