Patterson-UTI Energy Inc (PTEN)
Financial leverage 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 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 | 4,439,620 | 4,609,090 | 5,191,780 | 5,367,750 |
| Total stockholders’ equity | US$ in thousands | 4,812,290 | 4,851,210 | 1,720,170 | 1,672,960 | 1,665,520 | 1,634,380 | 1,576,080 | 1,576,700 | 1,609,490 | 1,725,640 | 1,807,720 | 1,912,150 | 2,016,060 | 2,119,560 | 2,228,870 | 2,378,890 | 2,833,620 | 2,942,990 | 3,278,310 | 3,403,370 |
| Financial leverage ratio | 1.54 | 1.53 | 1.81 | 1.85 | 1.89 | 1.86 | 1.88 | 1.83 | 1.84 | 1.75 | 1.70 | 1.66 | 1.64 | 1.65 | 1.63 | 1.63 | 1.57 | 1.57 | 1.58 | 1.58 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $7,420,030K ÷ $4,812,290K
= 1.54
Patterson-UTI Energy Inc's financial leverage ratio has exhibited fluctuations over the past eight quarters. The ratio has ranged from a low of 1.53 in Q3 2023 to a high of 1.89 in Q4 2022. A financial leverage ratio above 1 indicates that the company relies more on debt financing than equity.
The increase in the financial leverage ratio from Q3 2023 to Q2 2023 and then a subsequent decrease in Q3 2023 could signify changes in the company's capital structure or borrowing activities during those periods.
Overall, the trend in Patterson-UTI Energy Inc's financial leverage ratio suggests some variability in the company's debt levels relative to its equity over the past two years. Further analysis would be needed to understand the factors driving these fluctuations and assess the impact on the company's financial health and risk profile.
Peer comparison
Dec 31, 2023