NRG Energy Inc. (NRG)

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	—	10,741,000	10,737,000	11,332,000	7,976,000	7,974,000	7,970,000	8,026,000	7,966,000	7,957,000	8,712,000	8,705,000	8,691,000	5,792,000	5,810,000	5,807,000	5,803,000	—	—	—
Total stockholders’ equity	US$ in thousands	2,906,000	3,518,000	3,332,000	3,080,000	3,828,000	5,130,000	5,300,000	5,030,000	3,600,000	4,078,000	2,544,000	1,517,000	1,680,000	1,934,000	1,750,000	1,536,000	1,678,000	-1,552,000	-1,629,000	-1,520,000
Debt-to-capital ratio		0.00	0.75	0.76	0.79	0.68	0.61	0.60	0.61	0.69	0.66	0.77	0.85	0.84	0.75	0.77	0.79	0.78	—	—	—

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $2,906,000K)
= 0.00

The debt-to-capital ratio of NRG Energy Inc. has shown fluctuations over the past eight quarters. The ratio indicates the proportion of the company's capital structure that is financed by debt.

During Q4 2023, the debt-to-capital ratio was 0.79, higher than the previous quarter's ratio of 0.77. This increase may suggest that the company has taken on more debt relative to its total capital in the latest quarter.

Comparing to Q4 2022, where the ratio was 0.68, there has been a notable increase in the debt-to-capital ratio over the year. This indicates an increase in the company's reliance on debt financing compared to the previous year.

Overall, the trend in NRG Energy Inc.'s debt-to-capital ratio demonstrates some variability, indicating potential changes in the company's debt management practices and capital structure over the quarters. It is essential to further assess the reasons behind these fluctuations to understand the company's overall financial health and risk profile.