Magnolia Oil & Gas Corp (MGY)

Solvency ratios

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
Debt-to-assets ratio 0.14 0.15 0.15 0.15 0.15 0.17 0.19 0.22 0.22 0.24 0.26 0.27 0.27 0.27 0.28 0.26 0.11 0.11 0.11 0.11
Debt-to-capital ratio 0.19 0.19 0.19 0.20 0.20 0.23 0.26 0.30 0.32 0.36 0.38 0.39 0.42 0.42 0.43 0.42 0.18 0.18 0.18 0.19
Debt-to-equity ratio 0.23 0.24 0.24 0.24 0.25 0.31 0.35 0.43 0.48 0.56 0.62 0.64 0.71 0.73 0.74 0.72 0.22 0.22 0.22 0.23
Financial leverage ratio 1.63 1.59 1.57 1.61 1.63 1.81 1.90 2.00 2.14 2.28 2.40 2.39 2.65 2.69 2.68 2.74 1.95 2.00 2.03 2.04

The solvency ratios of Magnolia Oil & Gas Corp indicate the company's ability to meet its long-term debt obligations and remain financially stable over time. The debt-to-assets ratio has been relatively stable around 0.15 to 0.28, suggesting that the company has maintained a conservative level of debt compared to its total assets. Similarly, the debt-to-capital ratio and debt-to-equity ratio have shown a generally increasing trend, indicating a higher debt reliance compared to the company's capital and equity.

The financial leverage ratio has fluctuated significantly, ranging from 1.57 to 2.74. This ratio reflects the company's level of financial risk and shows an increasing trend over the periods, indicating that Magnolia Oil & Gas Corp has been taking on more debt to finance its operations.

Overall, the solvency ratios suggest that while Magnolia Oil & Gas Corp has maintained a relatively conservative level of debt compared to its assets, the increasing trend in the debt-to-capital, debt-to-equity, and financial leverage ratios warrants close monitoring of the company's debt management and financial risk going forward.

Coverage ratios

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
Interest coverage 125.58 141.00 181.54 236.25 183.43 181.07 154.96 119.28 140.46 108.99 76.30 38.05 -530.78 -539.41 -540.97 — 33.38 14.19 9.21 8.39

Magnolia Oil & Gas Corp's interest coverage ratio has shown fluctuating trends over the periods presented, ranging from -540.97 to 236.25. The interest coverage ratio measures the company's ability to meet its interest obligations with its operating income. A higher interest coverage ratio indicates a stronger ability to meet interest payments.

The interest coverage ratio improved significantly from negative figures in 2020 to a peak of 236.25 in March 2023, indicating a substantial increase in the company's ability to cover its interest expenses. However, this improvement was followed by a slight decrease in subsequent periods, but the ratios remained relatively high, indicating a healthy interest coverage position.

Overall, Magnolia Oil & Gas Corp's interest coverage ratio has shown positive trends, suggesting that the company has been effectively managing its interest obligations and generating sufficient operating income to cover its interest expenses. This could be a positive sign for investors and creditors assessing the company's financial health.