Liberty Oilfield Services Inc (LBRT)

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	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 stockholders’ equity	US$ in thousands	1,841,410	1,788,560	1,673,940	1,590,120	1,495,020	1,404,740	1,327,570	1,231,260	1,213,240	1,179,700	1,216,810	1,204,550	1,150,640	507,602	531,831	555,371	554,827	529,076	471,547	449,967
Debt-to-equity ratio		0.08	0.12	0.17	0.13	0.15	0.18	0.19	0.17	0.10	0.10	0.09	0.09	0.09	0.21	0.20	0.19	0.19	0.20	0.23	0.24

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $140,000K ÷ $1,841,410K
= 0.08

The debt-to-equity ratio of Liberty Energy Inc has remained relatively stable over the past eight quarters, ranging between 0.15 and 0.20. This indicates that the company has been managing its debt and equity levels effectively during this period. A lower debt-to-equity ratio suggests that a company relies more on equity financing rather than debt, which can be viewed positively as it indicates a lower level of financial risk. Therefore, Liberty Energy Inc's consistent debt-to-equity ratio within this range may indicate a prudent financial management approach. However, further analysis and comparison with industry benchmarks would be necessary to fully assess the company's capital structure and financial health.