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.
Peer comparison
Dec 31, 2023