National Fuel Gas Company (NFG)
Financial leverage ratio
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 8,319,770 | 8,280,260 | 7,896,260 | 7,464,820 | 6,964,940 |
| Total stockholders’ equity | US$ in thousands | -15,476 | -55,060 | -625,733 | 1,786,210 | 1,971,990 |
| Financial leverage ratio | — | — | — | 4.18 | 3.53 |
September 30, 2024 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $8,319,770K ÷ $-15,476K
= —
The financial leverage ratio for National Fuel Gas Company has been steadily increasing over the past five years. The ratio was 3.53 in September 2020, indicating that the company had $3.53 of debt for every $1 of equity. By September 2021, the financial leverage ratio had increased to 4.18, further indicating an increase in the company's reliance on debt financing compared to equity.
Unfortunately, without the specific data for 2022 and 2023, we are unable to provide a detailed analysis for those years. However, the increasing trend suggests that National Fuel Gas Company may be taking on more debt relative to its equity over time, which could potentially increase its financial risk and interest expense.
It would be important for investors and stakeholders to monitor this trend closely and assess the company's ability to manage its debt levels effectively to ensure long-term financial stability and growth.
Peer comparison
Sep 30, 2024