Murphy USA Inc (MUSA)

Debt-to-capital 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 — 1,673,100 1,673,100 1,673,200 1,673,300 1,673,300 1,673,300 1,673,400 1,673,500 1,673,500 1,673,600 1,672,600 1,000,300 1,014,400 1,026,500 1,038,600 1,038,100 987,700 854,900 859,300
Total stockholders’ equity US$ in thousands 828,900 844,100 750,800 716,800 640,700 766,000 762,700 791,500 807,200 824,800 757,900 780,600 784,100 895,700 918,000 746,800 803,000 779,000 816,300 797,800
Debt-to-capital ratio 0.00 0.66 0.69 0.70 0.72 0.69 0.69 0.68 0.67 0.67 0.69 0.68 0.56 0.53 0.53 0.58 0.56 0.56 0.51 0.52

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 shown fluctuations over the past eight quarters. The ratio was relatively stable at around 0.70 in the third and fourth quarters of 2022 before rising to 0.74 in Q4 2022. Subsequently, the ratio decreased to 0.72 in Q1 2023 and further to 0.71 in Q2 2023. In the most recent quarter, Q4 2023, the debt-to-capital ratio remained constant at 0.68.

Overall, the trend indicates that the company has been managing its debt levels relative to its capital base more efficiently in recent quarters. However, it is essential to monitor this ratio over time to ensure that the company maintains a healthy balance between debt and equity in its capital structure.