Stock Analysis on Net
AI Tokens
Stock Analysis on Net

EQT Corp. (NYSE:EQT)

This company has been moved to the archive! The financial data has not been updated since October 27, 2022.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

EQT Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Current portion of debt 1.87 1.95 2.26 4.42 0.05 2.11 0.16 0.85 0.19 0.09 0.09 0.09 0.02 0.02 3.46 3.40 2.44 2.41 0.00
Accounts payable 7.44 7.52 6.49 6.20 5.14 4.32 4.50 3.89 3.94 3.81 3.71 4.23 3.75 4.15 4.31 5.11 3.41 2.60 2.53
Derivative instruments, at fair value 18.70 20.19 24.58 11.17 24.84 11.38 3.61 3.32 5.09 3.47 2.83 1.66 1.69 1.85 1.52 1.62 0.64 0.50 0.21
Other current liabilities 1.43 2.12 1.53 1.72 1.38 1.58 1.43 1.67 1.24 1.29 1.28 1.17 1.73 1.46 1.45 1.23 2.74 2.61 1.27
Current liabilities 29.45% 31.78% 34.86% 23.51% 31.41% 19.38% 9.70% 9.73% 10.47% 8.67% 7.91% 7.16% 7.19% 7.49% 10.74% 11.37% 9.23% 8.14% 4.01%
Credit facility borrowings 0.00 0.44 0.12 0.00 3.06 0.00 1.66 1.66 1.39 0.21 0.00 1.56 0.80 0.00 1.72 3.86 1.65 1.73 6.85
Term loan facility borrowings 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.29 5.31 4.96 4.88 0.00 0.00 0.00 0.00 0.00
Senior notes 18.89 19.49 20.34 20.53 23.37 26.33 24.27 24.13 24.76 24.79 22.09 20.62 19.28 18.98 19.10 18.74 25.60 25.32 20.14
Note payable to EQM Midstream Partners, LP 0.40 0.40 0.43 0.44 0.42 0.51 0.55 0.55 0.58 0.57 0.56 0.56 0.53 0.53 0.54 0.53 0.00 0.00 0.00
Deferred income taxes 3.96 3.28 1.99 4.34 1.51 5.32 7.53 7.57 7.61 8.61 8.66 7.90 8.98 9.27 9.14 8.80 4.23 4.57 5.18
Other liabilities and credits 4.45 4.41 4.64 4.69 4.34 4.73 5.12 5.22 4.87 4.75 4.80 4.77 4.21 3.94 3.99 3.82 2.71 2.58 2.79
Noncurrent liabilities 27.70% 28.03% 27.52% 30.00% 32.69% 36.89% 39.13% 39.13% 39.20% 38.92% 40.39% 40.72% 38.75% 37.59% 34.49% 35.75% 34.18% 34.20% 34.96%
Total liabilities 57.15% 59.82% 62.38% 53.51% 64.11% 56.27% 48.83% 48.86% 49.67% 47.59% 48.30% 47.88% 45.95% 45.07% 45.23% 47.12% 43.42% 42.33% 38.97%
Common stock, no par value 44.02 43.98 45.48 47.06 44.24 43.43 45.67 45.50 44.93 43.81 41.97 41.57 38.78 38.12 38.43 37.78 30.30 32.17 33.89
Treasury stock, shares at cost 0.00 -0.01 -0.01 -0.08 -0.08 -0.11 -0.12 -0.16 -0.17 -0.17 -0.17 -0.17 -0.16 -0.19 -0.20 -0.24 -0.17 -0.18 -0.19
Retained earnings (accumulated deficit) -1.33 -3.89 -7.91 -0.54 -8.30 0.38 5.59 5.79 5.60 8.80 9.92 10.76 15.46 17.02 16.56 15.37 8.27 8.34 8.71
Accumulated other comprehensive loss -0.02 -0.02 -0.02 -0.02 -0.02 -0.03 -0.03 -0.03 -0.03 -0.03 -0.03 -0.03 -0.03 -0.03 -0.03 -0.03 -0.01 -0.01 -0.01
Common shareholders’ equity 42.67% 40.06% 37.54% 46.42% 35.84% 43.67% 51.11% 51.10% 50.33% 52.41% 51.70% 52.12% 54.05% 54.93% 54.77% 52.88% 38.38% 40.32% 42.40%
Noncontrolling interest in consolidated subsidiaries 0.18 0.13 0.08 0.08 0.05 0.06 0.06 0.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 18.20 17.34 18.63
Total equity 42.85% 40.18% 37.62% 46.49% 35.89% 43.73% 51.17% 51.14% 50.33% 52.41% 51.70% 52.12% 54.05% 54.93% 54.77% 52.88% 56.58% 57.67% 61.03%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

The capital structure exhibits a gradual shift toward higher leverage over the analyzed period. Total liabilities as a percentage of total liabilities and equity increased from 38.97% in March 2018 to 57.15% by September 2022. This trend is mirrored by a corresponding decline in total equity, which fell from 61.03% to 42.85% over the same timeframe, indicating a higher reliance on debt and obligations to fund assets.

Current Liabilities and Short-Term Obligations
Current liabilities demonstrate a significant upward trajectory, rising from 4.01% in March 2018 to 29.45% in September 2022. The primary driver of this increase is the volatile growth in derivative instruments at fair value, which spiked from under 1% in 2018 to a peak of 24.84% in September 2021, before settling around 18.70% by September 2022. Additionally, accounts payable showed a steady increase, growing from 2.53% to 7.44% over the period, suggesting an expansion in short-term operational obligations.
Noncurrent Liabilities and Long-Term Debt
Noncurrent liabilities experienced a general decline, decreasing from 34.96% in March 2018 to 27.70% in September 2022. Senior notes remained a consistent component of the long-term liability profile, generally fluctuating between 18% and 26% of total liabilities and equity. Deferred income taxes, which peaked at 9.27% in June 2019, trended downward to 3.96% by September 2022, contributing to the overall reduction in the noncurrent liability proportion.
Stockholders' Equity and Retained Earnings
The equity composition reflects significant volatility, particularly within retained earnings. Initially positive, retained earnings fluctuated between 8% and 17% from 2018 through 2020, but transitioned into an accumulated deficit starting in September 2021, reaching -8.30% before improving to -1.33% by September 2022. While common stock as a percentage of the total balance sheet increased from 33.89% to 44.02%, the overall common shareholders' equity decreased from 42.40% in March 2018 to 42.67% in September 2022, with a notable trough of 35.84% in June 2021.
Capitalization and Solvency Indicators
The overall solvency profile shifted as total equity declined and current liabilities expanded. The increase in the proportion of current liabilities relative to noncurrent liabilities suggests a shift toward a more immediate liquidity burden, primarily driven by the fair value adjustments of derivative instruments rather than a surge in long-term debt facilities.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?