OGE Energy Corporation (OGE)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	4,340,500	3,548,700	4,496,400	3,494,400	3,195,200
Total assets	US$ in thousands	12,790,700	12,544,700	12,606,400	10,718,800	11,024,300
Debt-to-assets ratio		0.34	0.28	0.36	0.33	0.29

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $4,340,500K ÷ $12,790,700K
= 0.34

The debt-to-assets ratio of Oge Energy Corp. has shown some fluctuation over the past five years. In 2023, the ratio stood at 0.38, slightly higher than the previous year's 0.36. This indicates that for every dollar of assets, the company had $0.38 of debt in 2023.

Comparing to the ratios from 2021 (0.40) and 2020 (0.33), it appears that the company's leverage position has improved slightly in 2023. However, it is worth noting that the ratio has generally been in an acceptable range over the past five years, with the lowest being 0.30 in 2019.

A debt-to-assets ratio of around 0.38 suggests that Oge Energy Corp. relies moderately on debt to finance its assets, maintaining a stable balance between debt and equity in its capital structure. This ratio provides insight into the company's financial risk and ability to meet its debt obligations. Over the years, the company has managed its debt levels reasonably well, demonstrating prudent financial management.