Debt to Equity
since 2021
Calculation
Expand Energy Corp., debt to equity, long-term trends, calculation
| Debt to equity | = | Long-term debt, including current maturities, net1 | ÷ | Stockholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2024 | 0.32 | = | 5,680) | ÷ | 17,565) |
| Dec 31, 2023 | 0.19 | = | 2,028) | ÷ | 10,729) |
| Dec 31, 2022 | 0.34 | = | 3,093) | ÷ | 9,124) |
| Dec 31, 2021 | 0.40 | = | 2,278) | ÷ | 5,671) |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
1 US$ in millions
- Long-term debt, including current maturities, net
- The long-term debt exhibited significant fluctuations over the four-year period. From 2021 to 2022, there was a notable increase from 2,278 million US dollars to 3,093 million US dollars, indicating a 35.9% rise. However, in 2023, the debt decreased substantially to 2,028 million US dollars, representing a reduction of approximately 34.5% compared to the previous year. In contrast, 2024 saw a marked increase in long-term debt to 5,680 million US dollars, more than doubling the amount from 2023. This suggests a possible strategic decision to increase leverage or finance expansion during the last reported year.
- Stockholders’ equity
- Stockholders’ equity demonstrated a consistent upward trajectory throughout the period. Beginning at 5,671 million US dollars in 2021, equity rose sharply to 9,124 million US dollars in 2022, an increase of approximately 60.9%. This upward trend continued in 2023 with equity reaching 10,729 million US dollars, representing a growth of around 17.6% from the prior year. The most pronounced increase occurred in 2024, with equity rising to 17,565 million US dollars, a substantial 63.7% increase over 2023. The steady growth in equity indicates strengthening financial stability and retained earnings accumulation.
- Debt to equity ratio
- The debt to equity ratio showed a general decline from 0.40 in 2021 to 0.19 in 2023, reflecting a reduction in relative leverage and an improvement in capital structure efficiency. This downward trend suggests enhanced solvency and a decreased reliance on debt financing relative to equity during this period. However, in 2024, the ratio increased to 0.32, indicating a moderate rise in leverage in relation to the expansion in equity. Despite this increase, the ratio remained below the initial 2021 level, suggesting that the company maintains a more conservative capital structure relative to the beginning of the period.
Comparison to Competitors
Expand Energy Corp., debt to equity, long-term trends, comparison to competitors
| Expand Energy Corp. | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | Occidental Petroleum Corp. | |
|---|---|---|---|---|---|
| Dec 31, 2024 | 0.32 | 0.16 | 0.38 | 0.16 | 0.76 |
| Dec 31, 2023 | 0.19 | 0.13 | 0.38 | 0.20 | 0.65 |
| Dec 31, 2022 | 0.34 | 0.15 | 0.35 | 0.21 | 0.66 |
| Dec 31, 2021 | 0.40 | 0.23 | 0.44 | 0.28 | 1.46 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
Expand Energy Corp., debt to equity, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Expand Energy Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2024 | 0.32 | 0.23 |
| Dec 31, 2023 | 0.19 | 0.23 |
| Dec 31, 2022 | 0.34 | 0.23 |
| Dec 31, 2021 | 0.40 | 0.34 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
Comparison to Industry (Energy)
Expand Energy Corp., debt to equity, long-term trends, comparison to industry (energy)
| Expand Energy Corp. | Energy | |
|---|---|---|
| Dec 31, 2024 | 0.32 | 0.24 |
| Dec 31, 2023 | 0.19 | 0.24 |
| Dec 31, 2022 | 0.34 | 0.25 |
| Dec 31, 2021 | 0.40 | 0.37 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).