Liberty Oilfield Services Inc (LBRT)

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	140,000	223,000	288,000	210,000	217,426	252,682	252,937	211,192	121,445	121,125	105,221	105,317	105,411	105,504	105,596	105,625	105,731	105,837	106,375	106,041
Total assets	US$ in thousands	3,033,560	3,089,120	2,924,500	2,760,620	2,575,930	2,525,160	2,335,130	2,190,880	2,040,660	1,966,090	1,975,130	1,916,780	1,889,940	1,058,750	1,051,120	1,298,550	1,283,430	1,295,230	1,303,380	1,268,860
Debt-to-assets ratio		0.05	0.07	0.10	0.08	0.08	0.10	0.11	0.10	0.06	0.06	0.05	0.05	0.06	0.10	0.10	0.08	0.08	0.08	0.08	0.08

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $140,000K ÷ $3,033,560K
= 0.05

The debt-to-assets ratio of Liberty Energy Inc has been relatively stable over the past eight quarters, ranging between 0.09 and 0.12. This ratio indicates the proportion of the company's assets that are financed through debt, with lower ratios suggesting lower financial risk.

With an average debt-to-assets ratio of approximately 0.10 over this period, Liberty Energy Inc appears to maintain a conservative capital structure, relying more on equity financing rather than debt. This can be seen as a positive indicator of financial stability and solvency.

The slight fluctuations in the ratio may be reflective of varying levels of debt and asset composition over different quarters, but the overall trend does not suggest any concerning increase in debt reliance. Overall, Liberty Energy Inc's debt-to-assets ratio indicates a sound financial position with a prudent approach to debt management.