Patterson-UTI Energy Inc (PTEN)
Debt-to-assets ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,219,770 | 1,219,460 | 1,219,160 | 1,221,060 | 1,224,940 | 1,228,210 | 822,408 | 822,196 | 830,937 | 852,949 | 877,739 | 852,530 | 852,323 | 902,104 | 901,896 | 901,689 | 901,484 | 967,366 | 967,140 | 966,768 |
| Total assets | US$ in thousands | 5,833,470 | 5,963,680 | 7,022,330 | 7,226,190 | 7,420,030 | 7,420,570 | 3,117,200 | 3,092,340 | 3,143,820 | 3,042,000 | 2,959,980 | 2,888,960 | 2,957,850 | 3,017,460 | 3,073,310 | 3,171,840 | 3,299,070 | 3,491,220 | 3,624,800 | 3,870,280 |
| Debt-to-assets ratio | 0.21 | 0.20 | 0.17 | 0.17 | 0.17 | 0.17 | 0.26 | 0.27 | 0.26 | 0.28 | 0.30 | 0.30 | 0.29 | 0.30 | 0.29 | 0.28 | 0.27 | 0.28 | 0.27 | 0.25 |
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 been relatively stable over the period from March 31, 2020, to December 31, 2024, ranging between 0.17 and 0.30. This ratio measures the proportion of the company's total debt to its total assets, indicating the extent to which the company is financed by debt.
The trend in the debt-to-assets ratio shows a slight increase from 0.25 as of March 31, 2020, to 0.30 as of June 30, 2022. Subsequently, there was a slight decline to 0.26 as of June 30, 2023, before decreasing significantly to 0.17 as of September 30, 2023, where it remained stable until December 31, 2024.
The ratio of 0.17 as of December 31, 2023, and December 31, 2024, indicates that Patterson-UTI Energy Inc has a relatively low level of debt in comparison to its total assets during that period. This may suggest a conservative approach to financing operations, with a lower reliance on debt financing. However, it is important to consider other financial metrics and industry benchmarks to assess the company's overall financial health and risk profile accurately.
Peer comparison
Dec 31, 2024