SM Energy Co (SM)

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

The debt-to-equity ratio of SM Energy Co has consistently remained at 0.00 from March 31, 2020, to December 31, 2024. This indicates that the company has not incurred any debt in relation to its equity during this period. A debt-to-equity ratio of 0.00 typically suggests that the company is not relying on debt financing to fund its operations or growth, and instead, it is mainly funded by equity. This may reflect a conservative financial strategy or a strong ability to generate internal funds to support its operations. It is important to note that a low or zero debt-to-equity ratio does not necessarily imply favorable financial health, as companies may need a certain level of debt to optimize their capital structure and investment opportunities. Additional analysis of other financial ratios and key performance indicators would provide a more comprehensive understanding of SM Energy Co's overall financial position and performance.