Viper Energy Ut (VNOM)

Debt-to-capital ratio

		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	Dec 31, 2019
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	1,400,960	1,089,800	1,079,540	1,014,290	2,418,580	2,286,170	2,292,430	690,659	2,290,910	2,270,760	2,242,980	2,232,830	1,855,750	1,847,020	1,850,040	1,860,830	1,953,140	1,941,480	1,990,170	2,185,420
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

September 30, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $1,400,960K)
= 0.00

The debt-to-capital ratio for Viper Energy Ut has consistently been reported as 0.00 across all the disclosed periods from December 2019 to September 2024. This indicates that the company has not utilized debt in its capital structure during this period, relying solely on equity financing. The consistent zero value suggests a conservative approach to financial leverage, where the company has not taken on debt to fund its operations or growth. This could imply a lower financial risk and may provide Viper Energy Ut with more financial flexibility and stability, as it does not have debt obligations to service. However, it is important to consider the overall context and implications of such a low debt-to-capital ratio on the company's capital structure, cost of capital, and overall financial strategy.