Southwestern Energy Company (SWN)

Debt-to-equity 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
Long-term debt	US$ in thousands	3,947,000	4,114,000	4,036,000	3,935,000	4,392,000	4,855,000	5,081,000	4,895,000	5,201,000	4,036,000	2,814,000	2,812,000	3,150,000	2,450,000	2,440,000	2,279,000	2,242,000	2,219,000	2,267,000	2,267,000
Total stockholders’ equity	US$ in thousands	5,888,000	6,537,000	6,489,000	6,254,000	4,324,000	1,414,000	1,043,000	-119,000	2,547,000	-286,000	-18,000	586,000	497,000	384,000	823,000	1,701,000	3,246,000	3,135,000	3,082,000	2,937,000
Debt-to-equity ratio		0.67	0.63	0.62	0.63	1.02	3.43	4.87	—	2.04	—	—	4.80	6.34	6.38	2.96	1.34	0.69	0.71	0.74	0.77

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $3,947,000K ÷ $5,888,000K
= 0.67

The debt-to-equity ratio of Southwestern Energy Company has exhibited a declining trend from Q4 2022 to Q3 2023, indicating a reduction in the company's reliance on debt to finance its operations relative to its equity. The ratio decreased from 1.02 in Q4 2022 to 0.63 in Q3 2023, suggesting an improvement in the company's financial leverage and potentially lower financial risk. The ratios of 4.88 in Q2 2022 and 3.44 in Q3 2022 were relatively high, signaling a higher proportion of debt in the company's capital structure during those periods. This reduction in the debt-to-equity ratio over the quarters indicates a positive trend towards a more balanced and sustainable capital structure for Southwestern Energy Company.