Vital Energy Inc. (VTLE)

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	1,609,420	1,926,970	1,619,600	1,163,810	1,113,020	1,181,580	1,291,240	1,421,820	1,425,860	1,349,900	1,306,110	1,145,370	1,179,270	1,218,950	1,258,160	1,257,380	1,170,420	979,972	1,029,530	1,064,080
Total stockholders’ equity	US$ in thousands	2,785,260	1,773,060	1,603,570	1,225,370	1,110,750	1,000,670	679,456	423,788	513,780	224,062	-154,282	-68,568	-21,443	141,512	376,020	919,221	841,874	1,079,250	1,344,320	1,171,430
Debt-to-equity ratio		0.58	1.09	1.01	0.95	1.00	1.18	1.90	3.36	2.78	6.02	—	—	—	8.61	3.35	1.37	1.39	0.91	0.77	0.91

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,609,420K ÷ $2,785,260K
= 0.58

The debt-to-equity ratio of Vital Energy Inc. has shown fluctuations over the past few quarters. As of Dec 31, 2023, the ratio stands at 0.58, indicating that the company has a lower level of debt compared to its equity. This suggests a relatively conservative financial structure, where a greater portion of the company's assets is financed through equity rather than debt.

The ratio experienced a significant increase in the third quarter of 2022, reaching 1.18, and continued to rise in the subsequent quarter, peaking at 1.90 by Jun 30, 2022. This spike could potentially signal a higher reliance on debt to fund operations or investments during that period.

By Mar 31, 2023, the debt-to-equity ratio decreased to 0.95, suggesting a reduction in the company's debt levels or an increase in equity. The ratio remained relatively stable around the 1.00 mark in the following quarters until Sep 30, 2023, when it increased to 1.09.

Overall, the trend in Vital Energy Inc.'s debt-to-equity ratio indicates variations in the company's capital structure and financial leverage over the analyzed period. It is important for stakeholders to monitor these ratios to assess the company's risk exposure and financial health.