Matador Resources Company (MTDR)

Debt-to-capital ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Long-term debt	US$ in thousands	3,325,410	1,481,000	607,000	786,000	2,206,630	1,005,000	1,020,000	475,000	465,000	440,000	420,000	455,000	485,000	477,500	592,500	674,000	774,000	1,842,000	1,745,210	1,662,310
Total stockholders’ equity	US$ in thousands	5,089,150	4,870,630	4,631,630	4,418,250	3,910,860	3,662,720	3,402,860	3,252,850	3,110,800	2,858,810	2,529,170	2,118,600	1,907,210	1,688,010	1,479,760	1,359,400	1,286,530	1,371,930	1,643,830	1,991,350
Debt-to-capital ratio		0.40	0.23	0.12	0.15	0.36	0.22	0.23	0.13	0.13	0.13	0.14	0.18	0.20	0.22	0.29	0.33	0.38	0.57	0.51	0.45

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $3,325,410K ÷ ($3,325,410K + $5,089,150K)
= 0.40

The debt-to-capital ratio of Matador Resources Company has shown fluctuation over the period from March 31, 2020, to December 31, 2024. The ratio decreased from 0.45 on March 31, 2020, to 0.12 on June 30, 2024, indicating a significant improvement in the company's capital structure and its ability to manage debt effectively. However, there were fluctuations in the ratio during this period, with some increases and decreases observed. As of December 31, 2024, the debt-to-capital ratio slightly increased to 0.40 from the previous period. Overall, the trend suggests that Matador Resources Company has been successful in reducing its debt relative to its total capital base over the years, with some fluctuations along the way.