One Gas Inc (OGS)

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 2,160,400 1,862,600 1,876,210 1,875,570 2,661,740 2,429,050 2,283,860 2,283,620 3,683,380 3,683,140 4,082,830 4,082,660 1,582,430 1,582,190 1,581,930 1,286,190 1,286,060 1,285,940 1,285,810 1,285,590
Total stockholders’ equity US$ in thousands 2,765,880 2,646,750 2,654,830 2,651,480 2,584,430 2,446,270 2,453,600 2,449,390 2,349,530 2,315,100 2,317,270 2,296,600 2,233,310 2,200,020 2,191,990 2,189,010 2,129,390 2,101,880 2,108,460 2,104,780
Debt-to-capital ratio 0.44 0.41 0.41 0.41 0.51 0.50 0.48 0.48 0.61 0.61 0.64 0.64 0.41 0.42 0.42 0.37 0.38 0.38 0.38 0.38

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,160,400K ÷ ($2,160,400K + $2,765,880K)
= 0.44

The debt-to-capital ratio of ONE Gas Inc has shown some fluctuation over the past eight quarters. From Q1 2022 to Q4 2023, the ratio has ranged from 0.52 to 0.63. A decreasing trend is noticeable in the ratio from Q2 2022 to Q4 2022, where it decreased from 0.63 to 0.56, indicating a relative reduction in the proportion of debt within the company's capital structure.

However, in the subsequent quarters, the ratio remained relatively stable between 0.52 and 0.56. This stability suggests that ONE Gas Inc has been maintaining a consistent balance between debt and equity in its capital structure during these quarters.

Overall, the debt-to-capital ratio of ONE Gas Inc has fluctuated moderately over the periods analyzed, indicating a certain level of debt reliance in the company's capital structure but with a general trend towards stability in recent quarters. Investors and analysts may monitor this ratio in the future to assess the company's leverage and financial health.