SM Energy Co (SM)

Debt-to-capital 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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	4,237,260	4,061,550	3,843,940	3,698,250	3,615,850	3,404,290	3,298,470	3,229,800	3,085,460	2,867,660	2,444,900	2,115,110	2,063,130	1,636,900	1,552,510	1,769,670	2,016,160	2,185,110	2,280,830	2,341,720
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $4,237,260K)
= 0.00

The debt-to-capital ratio of SM Energy Co has been consistently recorded at 0.00 over the past several quarters, indicating that the company has not utilized any debt in its capital structure during this period. A ratio of 0.00 suggests that the company's capital is entirely financed by equity, which may indicate a conservative financial strategy or a strong financial position where the company can fund its operations and investments without relying on debt.

It is important to note that a debt-to-capital ratio of 0.00 does not necessarily mean that the company does not have any debt obligations. It is possible that the company has minimal debt relative to its total capital, resulting in the calculated ratio being rounded to zero. Investors and analysts may want to further investigate the company's financial statements and disclosures to understand the complete picture of its debt levels and financial health.