Hess Corporation (HES)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 8,302,000 | 8,278,000 | 7,941,000 | 8,286,000 | 7,142,000 |
| Total assets | US$ in thousands | 24,007,000 | 21,695,000 | 20,515,000 | 18,821,000 | 21,782,000 |
| Debt-to-assets ratio | 0.35 | 0.38 | 0.39 | 0.44 | 0.33 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $8,302,000K ÷ $24,007,000K
= 0.35
The debt-to-assets ratio of Hess Corporation has shown a decreasing trend over the past five years, indicating a reduction in the company's reliance on debt to finance its operations and investments. As of December 31, 2023, the ratio stands at 0.37, down from 0.39 in 2022, 0.42 in 2021, and 0.45 in 2020. This downward trend suggests that the company has been able to improve its financial health by decreasing its debt levels relative to its total assets, which could lead to lower financial risk and increased financial stability. However, it is worth noting that the ratio was lower in 2019 at 0.34, indicating that there has been some fluctuation in the company's debt management over the years. Overall, the decreasing trend in the debt-to-assets ratio reflects positively on Hess Corporation's financial position and management of debt obligations.
Peer comparison
Dec 31, 2023