Debt to Equity
since 2005
Calculation
EOG Resources Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Long-term debt, including current portion1 | ÷ | Stockholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2019 | 0.24 | = | 5,175,443) | ÷ | 21,640,716) |
| Dec 31, 2018 | 0.31 | = | 6,083,262) | ÷ | 19,364,188) |
| Dec 31, 2017 | 0.39 | = | 6,387,071) | ÷ | 16,283,273) |
| Dec 31, 2016 | 0.50 | = | 6,986,358) | ÷ | 13,981,581) |
| Dec 31, 2015 | 0.51 | = | 6,660,264) | ÷ | 12,943,035) |
| Dec 31, 2014 | 0.33 | = | 5,909,933) | ÷ | 17,712,582) |
| Dec 31, 2013 | 0.38 | = | 5,913,221) | ÷ | 15,418,459) |
| Dec 31, 2012 | 0.48 | = | 6,312,181) | ÷ | 13,284,764) |
| Dec 31, 2011 | 0.40 | = | 5,009,166) | ÷ | 12,640,904) |
| Dec 31, 2010 | 0.51 | = | 5,223,341) | ÷ | 10,231,632) |
| Dec 31, 2009 | 0.28 | = | 2,797,000) | ÷ | 9,998,042) |
| Dec 31, 2008 | 0.21 | = | 1,897,000) | ÷ | 9,014,497) |
| Dec 31, 2007 | 0.17 | = | 1,185,000) | ÷ | 6,990,094) |
| Dec 31, 2006 | 0.13 | = | 733,442) | ÷ | 5,599,671) |
| Dec 31, 2005 | 0.23 | = | 985,067) | ÷ | 4,316,292) |
Based on: 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), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The financial trajectory between 2005 and 2019 is characterized by a substantial increase in the capital base, accompanied by fluctuating levels of long-term debt. While total debt grew significantly over the first decade of the period, stockholders' equity expanded at a more aggressive pace, resulting in a volatile but generally controlled debt-to-equity ratio.
- Long-Term Debt Trends
- Total long-term debt experienced a period of rapid expansion between 2005 and 2010, increasing from approximately 985 million to 5.22 billion. Debt levels remained elevated and fluctuated over the following years, reaching a peak of approximately 6.99 billion in 2016 before trending downward to 5.18 billion by 2019.
- Stockholders' Equity Growth
- Equity showed a strong long-term upward trend, growing from 4.32 billion in 2005 to 17.71 billion in 2014. A significant contraction occurred in 2015, where equity dropped to 12.94 billion, before recovering aggressively to reach a peak of 21.64 billion by 2019.
- Debt to Equity Ratio Dynamics
- The leverage ratio exhibited notable volatility, with peaks of 0.51 occurring in both 2010 and 2015. The 2015 peak was primarily a result of the contraction in stockholders' equity rather than an increase in borrowed funds. Following 2015, a consistent deleveraging trend is observed, with the ratio decreasing annually to reach 0.24 by 2019, effectively returning to the leverage levels seen in 2005.
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Comparison to Competitors
EOG Resources Inc., debt to equity, long-term trends, comparison to competitors
| EOG Resources Inc. | Chevron Corp. | ConocoPhillips | ExxonMobil Holdings Corp. | |
|---|---|---|---|---|
| Dec 31, 2019 | 0.24 | 0.19 | 0.43 | 0.24 |
| Dec 31, 2018 | 0.31 | 0.22 | 0.47 | 0.20 |
| Dec 31, 2017 | 0.39 | 0.26 | 0.64 | 0.23 |
| Dec 31, 2016 | 0.50 | 0.32 | 0.78 | 0.26 |
| Dec 31, 2015 | 0.51 | 0.25 | 0.63 | 0.23 |
| Dec 31, 2014 | 0.33 | 0.18 | 0.43 | 0.17 |
| Dec 31, 2013 | 0.38 | 0.14 | 0.42 | 0.13 |
| Dec 31, 2012 | 0.48 | 0.09 | 0.45 | 0.07 |
| Dec 31, 2011 | 0.40 | 0.08 | 0.35 | 0.11 |
| Dec 31, 2010 | 0.51 | 0.11 | 0.34 | 0.10 |
| Dec 31, 2009 | 0.28 | 0.11 | 0.46 | 0.09 |
| Dec 31, 2008 | 0.21 | 0.10 | 0.50 | 0.08 |
| Dec 31, 2007 | 0.17 | 0.09 | 0.24 | 0.08 |
| Dec 31, 2006 | 0.13 | 0.14 | 0.33 | 0.07 |
| Dec 31, 2005 | 0.23 | 0.21 | 0.24 | 0.07 |
Based on: 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), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
EOG Resources Inc., debt to equity, long-term trends, comparison to sector (oil, gas & consumable fuels)
| EOG Resources Inc. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2019 | 0.24 | 0.24 |
| Dec 31, 2018 | 0.31 | 0.23 |
| Dec 31, 2017 | 0.39 | 0.28 |
| Dec 31, 2016 | 0.50 | 0.33 |
| Dec 31, 2015 | 0.51 | 0.28 |
| Dec 31, 2014 | 0.33 | 0.21 |
| Dec 31, 2013 | 0.38 | 0.17 |
| Dec 31, 2012 | 0.48 | 0.13 |
| Dec 31, 2011 | 0.40 | 0.15 |
| Dec 31, 2010 | 0.51 | 0.16 |
| Dec 31, 2009 | 0.28 | 0.18 |
| Dec 31, 2008 | 0.21 | 0.18 |
| Dec 31, 2007 | 0.17 | 0.13 |
| Dec 31, 2006 | 0.13 | 0.17 |
| Dec 31, 2005 | 0.23 | 0.15 |
Based on: 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), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Energy)
EOG Resources Inc., debt to equity, long-term trends, comparison to industry (energy)
| EOG Resources Inc. | Energy | |
|---|---|---|
| Dec 31, 2019 | 0.24 | 0.26 |
| Dec 31, 2018 | 0.31 | 0.25 |
| Dec 31, 2017 | 0.39 | 0.30 |
| Dec 31, 2016 | 0.50 | 0.35 |
| Dec 31, 2015 | 0.51 | 0.30 |
| Dec 31, 2014 | 0.33 | 0.22 |
| Dec 31, 2013 | 0.38 | 0.19 |
| Dec 31, 2012 | 0.48 | 0.15 |
| Dec 31, 2011 | 0.40 | 0.16 |
| Dec 31, 2010 | 0.51 | 0.17 |
| Dec 31, 2009 | 0.28 | 0.19 |
| Dec 31, 2008 | 0.21 | 0.19 |
| Dec 31, 2007 | 0.17 | 0.15 |
| Dec 31, 2006 | 0.13 | 0.19 |
| Dec 31, 2005 | 0.23 | 0.16 |
Based on: 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), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).