Marathon Oil Corporation (MRO)

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	3,378,000	4,876,000	5,724,000	5,723,000	5,521,000	3,579,000	3,709,000	3,908,000	3,978,000	3,977,000	4,875,000	4,905,000	5,404,000	5,405,000	5,530,000	5,529,000	5,501,000	5,529,000	5,528,000	5,528,000
Total stockholders’ equity	US$ in thousands	11,205,000	11,226,000	11,244,000	11,388,000	11,397,000	11,187,000	11,532,000	11,366,000	10,686,000	10,796,000	10,634,000	10,671,000	10,561,000	10,892,000	11,175,000	11,958,000	12,153,000	12,271,000	12,101,000	12,208,000
Debt-to-equity ratio		0.30	0.43	0.51	0.50	0.48	0.32	0.32	0.34	0.37	0.37	0.46	0.46	0.51	0.50	0.49	0.46	0.45	0.45	0.46	0.45

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $3,378,000K ÷ $11,205,000K
= 0.30

Marathon Oil Corporation's debt-to-equity ratio has been relatively stable over the past eight quarters, ranging from 0.35 to 0.52. The trend shows a slight increase in the ratio from 0.35 in Q1 2022 to 0.52 in Q2 2023, before fluctuating between 0.51 and 0.52 in the latest quarters.

With a current level of 0.48 in Q4 2023, the company maintains a moderate level of debt in relation to its equity position. This indicates that Marathon Oil Corporation has been utilizing a mix of debt and equity funding to finance its operations and growth initiatives. The company's ability to keep the ratio within a reasonable range suggests a balanced approach to managing its capital structure and financial risk.

Overall, an analysis of Marathon Oil Corporation's debt-to-equity ratio indicates a consistent and prudent financial strategy regarding its leverage levels over the period analyzed.