Liberty Oilfield Services Inc (LBRT)

Debt-to-capital ratio

Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Long-term debt US$ in thousands 190,500 140,000 217,426 121,445 105,411
Total stockholders’ equity US$ in thousands 1,978,870 1,841,410 1,495,020 1,213,240 1,150,640
Debt-to-capital ratio 0.09 0.07 0.13 0.09 0.08

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $190,500K ÷ ($190,500K + $1,978,870K)
= 0.09

The debt-to-capital ratio for Liberty Oilfield Services Inc has shown some variations over the past five years. As of December 31, 2020, the ratio stood at 0.08, indicating that debt accounted for 8% of the company's total capital structure. This ratio increased slightly to 0.09 by December 31, 2021, reflecting a marginal uptick in the proportion of debt relative to total capital.

Subsequently, the debt-to-capital ratio experienced a more significant increase to 0.13 by December 31, 2022, suggesting a higher reliance on debt financing compared to equity. However, by December 31, 2023, the ratio dropped back to 0.07, signaling a decrease in the debt component as a percentage of total capital.

As of the most recent data available for December 31, 2024, the debt-to-capital ratio for Liberty Oilfield Services Inc reverted to 0.09, aligning closely with the level observed at the end of 2021. Overall, the fluctuations in the debt-to-capital ratio over the period indicate varying levels of indebtedness and capital structure composition within the company's financial framework.