Patterson-UTI Energy Inc (PTEN)
Debt-to-assets ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,219,770 | 1,224,940 | 830,937 | 852,323 | 901,484 |
| Total assets | US$ in thousands | 5,833,470 | 7,420,030 | 3,143,820 | 2,957,850 | 3,299,070 |
| Debt-to-assets ratio | 0.21 | 0.17 | 0.26 | 0.29 | 0.27 |
December 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,219,770K ÷ $5,833,470K
= 0.21
The debt-to-assets ratio of Patterson-UTI Energy Inc has shown some fluctuations over the past five years. As of December 31, 2020, the ratio stood at 0.27, indicating that 27% of the company's assets were financed through debt. This ratio increased slightly to 0.29 by December 31, 2021, before decreasing to 0.26 by December 31, 2022.
However, there was a significant drop in the debt-to-assets ratio by December 31, 2023, where it stood at 0.17, suggesting that the company had reduced its reliance on debt financing in relation to its total assets. The ratio then rose to 0.21 by December 31, 2024, but overall, the trend indicates a relatively conservative approach to debt utilization by Patterson-UTI Energy Inc during the period under consideration.
Peer comparison
Dec 31, 2024