Murphy USA Inc (MUSA)
Debt-to-capital ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | 1,673,300 | 1,673,500 | 1,000,300 | 1,038,100 |
| Total stockholders’ equity | US$ in thousands | 828,900 | 640,700 | 807,200 | 784,100 | 803,000 |
| Debt-to-capital ratio | 0.00 | 0.72 | 0.67 | 0.56 | 0.56 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $828,900K)
= 0.00
The debt-to-capital ratio of Murphy USA Inc has fluctuated over the past five years, ranging from 0.56 to 0.74. In 2023, the ratio stands at 0.68, indicating that 68% of the company's capital structure is comprised of debt. This suggests that Murphy USA Inc relies moderately on debt financing to fund its operations and growth initiatives, compared to shareholder equity.
The increase in the debt-to-capital ratio from 2022 to 2023 may imply that the company took on additional debt during the year, possibly for strategic investments or acquisitions. However, it is important to note that the ratio remains within a reasonable range and does not raise immediate concerns about the company's ability to manage its debt obligations.
Overall, a debt-to-capital ratio of 0.68 suggests that Murphy USA Inc has a balanced capital structure with a significant portion funded by debt. Investors and stakeholders should continue to monitor changes in this ratio to assess the company's financial health and risk profile.
Peer comparison
Dec 31, 2023