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
The financial position from 2021 through 2024 is characterized by a substantial and consistent expansion of stockholders' equity alongside volatile fluctuations in long-term debt, resulting in a shifting leverage profile.
- Long-term Debt Analysis
- Net long-term debt, including current maturities, demonstrated significant variability. After rising from 2,278 million US$ in 2021 to 3,093 million US$ in 2022, debt levels were reduced to 2,028 million US$ in 2023. However, a sharp increase occurred in 2024, with debt reaching 5,680 million US$, marking a peak for the period analyzed.
- Stockholders' Equity Trends
- A strong and uninterrupted growth pattern is observed in stockholders' equity. The value increased from 5,671 million US$ in 2021 to 17,565 million US$ by December 31, 2024. This consistent upward trajectory indicates a significant increase in the company's net asset base and internal capital strength.
- Debt to Equity Ratio Interpretation
- The debt to equity ratio showed a declining trend from 2021 to 2023, moving from 0.40 to a low of 0.19, reflecting a period of deleveraging and enhanced solvency. In 2024, the ratio rose to 0.32, driven by the substantial increase in long-term debt. Despite this recent uptick, the ratio remains below the 2021 level, suggesting that the growth in equity has effectively moderated the impact of the increased debt load on the overall capital structure.
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Comparison to Competitors
Expand Energy Corp., debt to equity, long-term trends, comparison to competitors
| Expand Energy Corp. | Chevron Corp. | ConocoPhillips | ExxonMobil Holdings Corp. | |
|---|---|---|---|---|
| Dec 31, 2024 | 0.32 | 0.16 | 0.38 | 0.16 |
| Dec 31, 2023 | 0.19 | 0.13 | 0.38 | 0.20 |
| Dec 31, 2022 | 0.34 | 0.15 | 0.35 | 0.21 |
| Dec 31, 2021 | 0.40 | 0.23 | 0.44 | 0.28 |
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 | 0.19 |
| Dec 31, 2023 | 0.19 | 0.20 |
| Dec 31, 2022 | 0.34 | 0.20 |
| Dec 31, 2021 | 0.40 | 0.28 |
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 | 0.20 |
| Dec 31, 2023 | 0.19 | 0.21 |
| Dec 31, 2022 | 0.34 | 0.22 |
| Dec 31, 2021 | 0.40 | 0.31 |
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).