Range Resources Corp (RRC)

Debt-to-equity 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-equity ratio		0.00	0.64	1.30	1.86	1.35

December 31, 2023 calculation

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

The debt-to-equity ratio of Range Resources Corp has shown a declining trend over the past five years, indicating an improvement in the company's financial leverage and risk management. The ratio has decreased from 1.35 in 2019 to 0.47 in 2023. This suggests that the company has been reducing its reliance on debt to finance its operations and is gradually moving towards a more balanced capital structure with a greater proportion of equity.

The significant decrease in the debt-to-equity ratio from 2019 to 2023 reflects a notable reduction in the company's debt levels relative to its equity. This could indicate that Range Resources Corp has either paid down existing debt, raised more equity capital, or a combination of both. By having a lower debt-to-equity ratio, the company may be in a stronger financial position to weather economic downturns and take advantage of growth opportunities.

Overall, the declining trend in Range Resources Corp's debt-to-equity ratio over the past five years suggests an improvement in the company's financial health, with a lower reliance on debt financing and a stronger equity base to support its operations and growth initiatives.