Marathon Petroleum Corp (MPC)

Debt-to-equity ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	27,000,000	26,300,000	25,100,000	31,100,000	28,300,000
Total stockholders’ equity	US$ in thousands	24,404,000	27,715,000	26,206,000	22,199,000	33,694,000
Debt-to-equity ratio		1.11	0.95	0.96	1.40	0.84

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $27,000,000K ÷ $24,404,000K
= 1.11

The debt-to-equity ratio of Marathon Petroleum Corp has fluctuated over the past five years. The ratio stood at 1.12 at the end of 2023, indicating that the company's level of debt compared to its equity was relatively high for that year. This was an increase from the previous year when the ratio was 0.96.

In 2022 and 2021, the company maintained a relatively stable debt-to-equity ratio of 0.96 and 0.97, respectively. However, there was a noticeable increase in 2020 when the ratio spiked to 1.42, suggesting a significant increase in debt compared to equity.

The lowest debt-to-equity ratio observed in the data was in 2019, at 0.86. This indicates that the company had a lower level of debt relative to equity in that year compared to the others in the dataset.

Overall, the trend in the debt-to-equity ratio for Marathon Petroleum Corp shows some variability, with fluctuations in the level of debt in relation to equity over the past five years. Investors and analysts may want to further investigate the reasons behind these fluctuations to assess the company's financial health and risk profile.