Range Resources Corp (RRC)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	0	1,841,960	2,707,770	3,040,250	3,172,940
Total stockholders’ equity	US$ in thousands	3,765,550	2,876,010	2,085,660	1,637,540	2,347,490
Debt-to-capital ratio		0.00	0.39	0.56	0.65	0.57

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $0K ÷ ($0K + $3,765,550K)
= 0.00

Range Resources Corp's debt-to-capital ratio has shown a declining trend over the past five years, decreasing from 0.57 in 2019 to 0.32 in 2023. This indicates that the company has been progressively reducing its reliance on debt in relation to its total capital structure. A lower debt-to-capital ratio generally suggests a lower financial risk, as the company is less leveraged and has a higher portion of equity funding its operations.

The decreasing trend in the debt-to-capital ratio may imply that Range Resources Corp has focused on deleveraging its balance sheet or has been successful in raising equity capital. This reduction in debt relative to its capital base could potentially improve the company's financial flexibility and ability to withstand economic downturns or volatility in the market.

Overall, the consistent decline in Range Resources Corp's debt-to-capital ratio indicates a positive trend towards a stronger financial position and sustainable capital structure. However, it would be advisable to continue monitoring this ratio to ensure that the company maintains a healthy balance between debt and equity financing.