Marathon Oil Corporation (MRO)

Financial leverage 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
Total assets	US$ in thousands	19,575,000	19,919,000	19,919,000	20,012,000	19,940,000	17,858,000	18,286,000	17,981,000	16,994,000	17,161,000	17,800,000	18,233,000	17,956,000	18,663,000	18,567,000	19,715,000	20,245,000	20,373,000	21,282,000	21,410,000
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
Financial leverage ratio		1.75	1.77	1.77	1.76	1.75	1.60	1.59	1.58	1.59	1.59	1.67	1.71	1.70	1.71	1.66	1.65	1.67	1.66	1.76	1.75

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $19,575,000K ÷ $11,205,000K
= 1.75

The financial leverage ratio of Marathon Oil Corporation has been relatively stable over the past eight quarters, ranging between 1.58 and 1.77. This metric signifies that the company's reliance on debt to finance its operations and investments has been moderate. The increase from 1.58 in Q1 2022 to 1.77 in Q3 2023 suggests a slight uptrend in the company's leverage, although this change is not dramatic. Overall, Marathon Oil Corporation has maintained a balanced approach to its capital structure, with a consistent level of debt utilization to support its business activities.