Debt to Equity
since 2012
Calculation
Diamondback Energy Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Long-term debt, including current maturities1 | ÷ | Total Diamondback Energy, Inc. stockholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2021 | 0.55 | = | 6,687) | ÷ | 12,088) |
| Dec 31, 2020 | 0.66 | = | 5,815) | ÷ | 8,794) |
| Dec 31, 2019 | 0.41 | = | 5,371) | ÷ | 13,249) |
| Dec 31, 2018 | 0.33 | = | 4,464) | ÷ | 13,699) |
| Dec 31, 2017 | 0.28 | = | 1,477) | ÷ | 5,255) |
| Dec 31, 2016 | 0.30 | = | 1,106) | ÷ | 3,697) |
| Dec 31, 2015 | 0.26 | = | 496) | ÷ | 1,876) |
| Dec 31, 2014 | 0.38 | = | 674) | ÷ | 1,751) |
| Dec 31, 2013 | 0.54 | = | 460) | ÷ | 846) |
| Dec 31, 2012 | 0.00 | = | —) | ÷ | 462) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
1 US$ in millions
The capital structure transitioned from a zero-debt position in 2012 to a moderately leveraged state by 2021. Throughout the analyzed period, both long-term debt and total stockholders' equity exhibited substantial growth, although the pace of expansion and the resulting leverage ratios fluctuated across different phases.
- Long-Term Debt Expansion
- Long-term debt rose from 0 in 2012 to 6,687 million by 2021. A period of accelerated borrowing is evident between 2017 and 2018, during which debt increased from 1,477 million to 4,464 million, representing a significant increase in total obligations.
- Equity Growth and Volatility
- Stockholders' equity demonstrated a strong upward trend from 2012 to 2018, increasing from 462 million to 13,699 million. A notable contraction occurred in 2020, where equity fell to 8,794 million, followed by a recovery to 12,088 million in 2021.
- Debt to Equity Ratio Dynamics
- The debt to equity ratio remained relatively constrained, fluctuating between 0.26 and 0.41 from 2014 through 2019. The ratio reached its peak of 0.66 in 2020, a result of increasing debt levels coinciding with a sharp decline in equity. This leverage was subsequently reduced to 0.55 by 2021 as the equity base strengthened.
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Comparison to Competitors
Diamondback Energy Inc., debt to equity, long-term trends, comparison to competitors
| Diamondback Energy Inc. | Chevron Corp. | ConocoPhillips | ExxonMobil Holdings Corp. | |
|---|---|---|---|---|
| Dec 31, 2021 | 0.55 | 0.23 | 0.44 | 0.28 |
| Dec 31, 2020 | 0.66 | 0.34 | 0.51 | 0.43 |
| Dec 31, 2019 | 0.41 | 0.19 | 0.43 | 0.24 |
| Dec 31, 2018 | 0.33 | 0.22 | 0.47 | 0.20 |
| Dec 31, 2017 | 0.28 | 0.26 | 0.64 | 0.23 |
| Dec 31, 2016 | 0.30 | 0.32 | 0.78 | 0.26 |
| Dec 31, 2015 | 0.26 | 0.25 | 0.63 | 0.23 |
| Dec 31, 2014 | 0.38 | 0.18 | 0.43 | 0.17 |
| Dec 31, 2013 | 0.54 | 0.14 | 0.42 | 0.13 |
| Dec 31, 2012 | 0.00 | 0.09 | 0.45 | 0.07 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
Diamondback Energy Inc., debt to equity, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Diamondback Energy Inc. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2021 | 0.55 | 0.28 |
| Dec 31, 2020 | 0.66 | 0.40 |
| Dec 31, 2019 | 0.41 | 0.24 |
| Dec 31, 2018 | 0.33 | 0.23 |
| Dec 31, 2017 | 0.28 | 0.28 |
| Dec 31, 2016 | 0.30 | 0.33 |
| Dec 31, 2015 | 0.26 | 0.28 |
| Dec 31, 2014 | 0.38 | 0.21 |
| Dec 31, 2013 | 0.54 | 0.17 |
| Dec 31, 2012 | 0.00 | 0.13 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
Comparison to Industry (Energy)
Diamondback Energy Inc., debt to equity, long-term trends, comparison to industry (energy)
| Diamondback Energy Inc. | Energy | |
|---|---|---|
| Dec 31, 2021 | 0.55 | 0.31 |
| Dec 31, 2020 | 0.66 | 0.44 |
| Dec 31, 2019 | 0.41 | 0.26 |
| Dec 31, 2018 | 0.33 | 0.25 |
| Dec 31, 2017 | 0.28 | 0.30 |
| Dec 31, 2016 | 0.30 | 0.35 |
| Dec 31, 2015 | 0.26 | 0.30 |
| Dec 31, 2014 | 0.38 | 0.22 |
| Dec 31, 2013 | 0.54 | 0.19 |
| Dec 31, 2012 | 0.00 | 0.15 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).