Range Resources Corp (RRC)

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	7,203,880	6,845,940	6,790,170	6,882,270	6,625,560	6,919,780	6,615,100	6,560,280	6,660,510	6,304,190	6,229,430	6,174,660	6,136,940	6,012,900	6,452,210	6,589,640	6,612,400	8,854,200	9,728,310	9,635,060
Total stockholders’ equity	US$ in thousands	3,765,550	3,447,580	3,387,610	3,305,460	2,876,010	2,163,480	1,977,180	1,600,100	2,085,660	1,181,280	1,523,260	1,663,850	1,637,540	1,593,970	2,336,020	2,495,810	2,347,490	4,158,190	4,182,250	4,062,660
Financial leverage ratio		1.91	1.99	2.00	2.08	2.30	3.20	3.35	4.10	3.19	5.34	4.09	3.71	3.75	3.77	2.76	2.64	2.82	2.13	2.33	2.37

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $7,203,880K ÷ $3,765,550K
= 1.91

Range Resources Corp's financial leverage ratio has been fluctuating over the past eight quarters. The ratio has been on a downward trend from Q4 2022 to Q1 2023, indicating a decreasing reliance on debt to finance the company's operations. However, from Q1 2023 to Q4 2023, there was a slight increase in the financial leverage ratio, suggesting a potential uptick in the company's debt levels relative to its equity.

It is important to note that a financial leverage ratio above 1 signifies that the company has more debt than equity in its capital structure. Range Resources Corp's financial leverage ratio has ranged from 1.91 to 4.10 over the past eight quarters, with the highest ratio observed in Q1 2022. This may indicate a higher level of financial risk associated with the company's capital structure during that period.

Overall, the trend in Range Resources Corp's financial leverage ratio suggests that the company has been actively managing its debt levels, but the recent increase in the ratio warrants further investigation into the company's debt management strategies and potential implications for its financial health and stability.