Magnolia Oil & Gas Corp (MGY)
Financial leverage ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 2,756,220 | 2,572,580 | 1,746,740 | 1,453,420 | 3,466,410 |
| Total stockholders’ equity | US$ in thousands | 1,691,650 | 1,576,030 | 816,733 | 548,136 | 1,776,020 |
| Financial leverage ratio | 1.63 | 1.63 | 2.14 | 2.65 | 1.95 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $2,756,220K ÷ $1,691,650K
= 1.63
The financial leverage ratio of Magnolia Oil & Gas Corp has exhibited fluctuations over the past five years. The ratio was 1.95 as of December 31, 2019, indicating moderate financial leverage. However, there was a significant increase to 2.65 as of December 31, 2020, suggesting higher financial leverage at that point. Subsequently, the ratio decreased to 2.14 by the end of 2021, showing some improvement but still indicating relatively high leverage. The ratio remained constant at 1.63 for both 2022 and 2023, implying that the company has maintained a consistent level of leverage in recent years. Overall, the trend in the financial leverage ratio suggests that Magnolia Oil & Gas Corp has experienced fluctuations in its leverage position but has recently stabilized at a moderate level.
Peer comparison
Dec 31, 2023