Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
EQT Corp., solvency ratios
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).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | EQT Corp. debt to equity ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | EQT Corp. debt to equity ratio (including operating lease liability) improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | EQT Corp. debt to capital ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | EQT Corp. debt to capital ratio (including operating lease liability) improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | EQT Corp. debt to assets ratio improved from 2019 to 2020 and from 2020 to 2021. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | EQT Corp. debt to assets ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | EQT Corp. financial leverage ratio increased from 2019 to 2020 and from 2020 to 2021. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | EQT Corp. interest coverage ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | EQT Corp. fixed charge coverage ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
Debt to Equity
EQT Corp., debt to equity calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of debt | 954,900) | 154,161) | 16,204) | 704,390) | 12,406) | |
| Credit facility borrowings | —) | 300,000) | 294,000) | 800,000) | 1,295,000) | |
| Term Loan Facility borrowings | —) | —) | 999,353) | —) | —) | |
| Senior notes | 4,435,782) | 4,371,467) | 3,878,366) | 3,882,932) | 4,575,203) | |
| Note payable to EQM Midstream Partners, LP | 94,320) | 99,838) | 105,056) | 110,059) | 114,720) | |
| Total debt | 5,485,002) | 4,925,466) | 5,292,979) | 5,497,381) | 5,997,329) | |
| Common shareholders’ equity | 10,029,527) | 9,255,240) | 9,803,588) | 10,958,229) | 13,319,618) | |
| Solvency Ratio | ||||||
| Debt to equity1 | 0.55 | 0.53 | 0.54 | 0.50 | 0.45 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| Chevron Corp. | 0.23 | 0.34 | 0.19 | — | — | |
| ConocoPhillips | 0.44 | 0.51 | 0.43 | — | — | |
| Exxon Mobil Corp. | 0.28 | 0.43 | 0.24 | — | — | |
| Marathon Petroleum Corp. | 0.97 | 1.42 | 0.86 | — | — | |
| Occidental Petroleum Corp. | 1.46 | 1.95 | 1.13 | — | — | |
| Valero Energy Corp. | 0.75 | 0.78 | 0.44 | — | — | |
| Debt to Equity, Sector | ||||||
| Oil, Gas & Consumable Fuels | 0.40 | 0.55 | 0.36 | — | — | |
| Debt to Equity, Industry | ||||||
| Energy | 0.42 | 0.58 | 0.37 | — | — | |
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).
1 2021 Calculation
Debt to equity = Total debt ÷ Common shareholders’ equity
= 5,485,002 ÷ 10,029,527 = 0.55
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | EQT Corp. debt to equity ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
Debt to Equity (including Operating Lease Liability)
EQT Corp., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of debt | 954,900) | 154,161) | 16,204) | 704,390) | 12,406) | |
| Credit facility borrowings | —) | 300,000) | 294,000) | 800,000) | 1,295,000) | |
| Term Loan Facility borrowings | —) | —) | 999,353) | —) | —) | |
| Senior notes | 4,435,782) | 4,371,467) | 3,878,366) | 3,882,932) | 4,575,203) | |
| Note payable to EQM Midstream Partners, LP | 94,320) | 99,838) | 105,056) | 110,059) | 114,720) | |
| Total debt | 5,485,002) | 4,925,466) | 5,292,979) | 5,497,381) | 5,997,329) | |
| Current portion of lease liabilities | 27,972) | 25,004) | 29,036) | —) | —) | |
| Noncurrent portions of lease liabilities (recorded in Other liabilities and credits) | 24,740) | 24,909) | 29,949) | —) | —) | |
| Total debt (including operating lease liability) | 5,537,714) | 4,975,379) | 5,351,964) | 5,497,381) | 5,997,329) | |
| Common shareholders’ equity | 10,029,527) | 9,255,240) | 9,803,588) | 10,958,229) | 13,319,618) | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | 0.55 | 0.54 | 0.55 | 0.50 | 0.45 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| Chevron Corp. | 0.25 | 0.37 | 0.21 | — | — | |
| ConocoPhillips | 0.45 | 0.54 | 0.45 | — | — | |
| Exxon Mobil Corp. | 0.31 | 0.46 | 0.27 | — | — | |
| Marathon Petroleum Corp. | 1.03 | 1.49 | 0.93 | — | — | |
| Occidental Petroleum Corp. | 1.49 | 2.01 | 1.17 | — | — | |
| Valero Energy Corp. | 0.82 | 0.84 | 0.50 | — | — | |
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Oil, Gas & Consumable Fuels | 0.43 | 0.59 | 0.39 | — | — | |
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Energy | 0.45 | 0.62 | 0.41 | — | — | |
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).
1 2021 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Common shareholders’ equity
= 5,537,714 ÷ 10,029,527 = 0.55
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | EQT Corp. debt to equity ratio (including operating lease liability) improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
Debt to Capital
EQT Corp., debt to capital calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of debt | 954,900) | 154,161) | 16,204) | 704,390) | 12,406) | |
| Credit facility borrowings | —) | 300,000) | 294,000) | 800,000) | 1,295,000) | |
| Term Loan Facility borrowings | —) | —) | 999,353) | —) | —) | |
| Senior notes | 4,435,782) | 4,371,467) | 3,878,366) | 3,882,932) | 4,575,203) | |
| Note payable to EQM Midstream Partners, LP | 94,320) | 99,838) | 105,056) | 110,059) | 114,720) | |
| Total debt | 5,485,002) | 4,925,466) | 5,292,979) | 5,497,381) | 5,997,329) | |
| Common shareholders’ equity | 10,029,527) | 9,255,240) | 9,803,588) | 10,958,229) | 13,319,618) | |
| Total capital | 15,514,529) | 14,180,706) | 15,096,567) | 16,455,610) | 19,316,947) | |
| Solvency Ratio | ||||||
| Debt to capital1 | 0.35 | 0.35 | 0.35 | 0.33 | 0.31 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| Chevron Corp. | 0.18 | 0.25 | 0.16 | — | — | |
| ConocoPhillips | 0.31 | 0.34 | 0.30 | — | — | |
| Exxon Mobil Corp. | 0.22 | 0.30 | 0.20 | — | — | |
| Marathon Petroleum Corp. | 0.49 | 0.59 | 0.46 | — | — | |
| Occidental Petroleum Corp. | 0.59 | 0.66 | 0.53 | — | — | |
| Valero Energy Corp. | 0.43 | 0.44 | 0.31 | — | — | |
| Debt to Capital, Sector | ||||||
| Oil, Gas & Consumable Fuels | 0.29 | 0.36 | 0.26 | — | — | |
| Debt to Capital, Industry | ||||||
| Energy | 0.30 | 0.37 | 0.27 | — | — | |
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).
1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 5,485,002 ÷ 15,514,529 = 0.35
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | EQT Corp. debt to capital ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
Debt to Capital (including Operating Lease Liability)
EQT Corp., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of debt | 954,900) | 154,161) | 16,204) | 704,390) | 12,406) | |
| Credit facility borrowings | —) | 300,000) | 294,000) | 800,000) | 1,295,000) | |
| Term Loan Facility borrowings | —) | —) | 999,353) | —) | —) | |
| Senior notes | 4,435,782) | 4,371,467) | 3,878,366) | 3,882,932) | 4,575,203) | |
| Note payable to EQM Midstream Partners, LP | 94,320) | 99,838) | 105,056) | 110,059) | 114,720) | |
| Total debt | 5,485,002) | 4,925,466) | 5,292,979) | 5,497,381) | 5,997,329) | |
| Current portion of lease liabilities | 27,972) | 25,004) | 29,036) | —) | —) | |
| Noncurrent portions of lease liabilities (recorded in Other liabilities and credits) | 24,740) | 24,909) | 29,949) | —) | —) | |
| Total debt (including operating lease liability) | 5,537,714) | 4,975,379) | 5,351,964) | 5,497,381) | 5,997,329) | |
| Common shareholders’ equity | 10,029,527) | 9,255,240) | 9,803,588) | 10,958,229) | 13,319,618) | |
| Total capital (including operating lease liability) | 15,567,241) | 14,230,619) | 15,155,552) | 16,455,610) | 19,316,947) | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 0.36 | 0.35 | 0.35 | 0.33 | 0.31 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| Chevron Corp. | 0.20 | 0.27 | 0.18 | — | — | |
| ConocoPhillips | 0.31 | 0.35 | 0.31 | — | — | |
| Exxon Mobil Corp. | 0.24 | 0.32 | 0.22 | — | — | |
| Marathon Petroleum Corp. | 0.51 | 0.60 | 0.48 | — | — | |
| Occidental Petroleum Corp. | 0.60 | 0.67 | 0.54 | — | — | |
| Valero Energy Corp. | 0.45 | 0.46 | 0.33 | — | — | |
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Oil, Gas & Consumable Fuels | 0.30 | 0.37 | 0.28 | — | — | |
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Energy | 0.31 | 0.38 | 0.29 | — | — | |
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).
1 2021 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 5,537,714 ÷ 15,567,241 = 0.36
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | EQT Corp. debt to capital ratio (including operating lease liability) improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
Debt to Assets
EQT Corp., debt to assets calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of debt | 954,900) | 154,161) | 16,204) | 704,390) | 12,406) | |
| Credit facility borrowings | —) | 300,000) | 294,000) | 800,000) | 1,295,000) | |
| Term Loan Facility borrowings | —) | —) | 999,353) | —) | —) | |
| Senior notes | 4,435,782) | 4,371,467) | 3,878,366) | 3,882,932) | 4,575,203) | |
| Note payable to EQM Midstream Partners, LP | 94,320) | 99,838) | 105,056) | 110,059) | 114,720) | |
| Total debt | 5,485,002) | 4,925,466) | 5,292,979) | 5,497,381) | 5,997,329) | |
| Total assets | 21,607,388) | 18,113,469) | 18,809,227) | 20,721,344) | 29,522,604) | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.25 | 0.27 | 0.28 | 0.27 | 0.20 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| Chevron Corp. | 0.13 | 0.18 | 0.11 | — | — | |
| ConocoPhillips | 0.22 | 0.25 | 0.21 | — | — | |
| Exxon Mobil Corp. | 0.14 | 0.20 | 0.13 | — | — | |
| Marathon Petroleum Corp. | 0.30 | 0.37 | 0.29 | — | — | |
| Occidental Petroleum Corp. | 0.39 | 0.45 | 0.35 | — | — | |
| Valero Energy Corp. | 0.24 | 0.28 | 0.18 | — | — | |
| Debt to Assets, Sector | ||||||
| Oil, Gas & Consumable Fuels | 0.19 | 0.25 | 0.18 | — | — | |
| Debt to Assets, Industry | ||||||
| Energy | 0.20 | 0.25 | 0.18 | — | — | |
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).
1 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= 5,485,002 ÷ 21,607,388 = 0.25
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | EQT Corp. debt to assets ratio improved from 2019 to 2020 and from 2020 to 2021. |
Debt to Assets (including Operating Lease Liability)
EQT Corp., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of debt | 954,900) | 154,161) | 16,204) | 704,390) | 12,406) | |
| Credit facility borrowings | —) | 300,000) | 294,000) | 800,000) | 1,295,000) | |
| Term Loan Facility borrowings | —) | —) | 999,353) | —) | —) | |
| Senior notes | 4,435,782) | 4,371,467) | 3,878,366) | 3,882,932) | 4,575,203) | |
| Note payable to EQM Midstream Partners, LP | 94,320) | 99,838) | 105,056) | 110,059) | 114,720) | |
| Total debt | 5,485,002) | 4,925,466) | 5,292,979) | 5,497,381) | 5,997,329) | |
| Current portion of lease liabilities | 27,972) | 25,004) | 29,036) | —) | —) | |
| Noncurrent portions of lease liabilities (recorded in Other liabilities and credits) | 24,740) | 24,909) | 29,949) | —) | —) | |
| Total debt (including operating lease liability) | 5,537,714) | 4,975,379) | 5,351,964) | 5,497,381) | 5,997,329) | |
| Total assets | 21,607,388) | 18,113,469) | 18,809,227) | 20,721,344) | 29,522,604) | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.26 | 0.27 | 0.28 | 0.27 | 0.20 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| Chevron Corp. | 0.15 | 0.20 | 0.13 | — | — | |
| ConocoPhillips | 0.23 | 0.26 | 0.22 | — | — | |
| Exxon Mobil Corp. | 0.16 | 0.22 | 0.15 | — | — | |
| Marathon Petroleum Corp. | 0.32 | 0.39 | 0.32 | — | — | |
| Occidental Petroleum Corp. | 0.40 | 0.47 | 0.37 | — | — | |
| Valero Energy Corp. | 0.26 | 0.31 | 0.20 | — | — | |
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Oil, Gas & Consumable Fuels | 0.20 | 0.26 | 0.19 | — | — | |
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Energy | 0.21 | 0.27 | 0.20 | — | — | |
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).
1 2021 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 5,537,714 ÷ 21,607,388 = 0.26
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | EQT Corp. debt to assets ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021. |
Financial Leverage
EQT Corp., financial leverage calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Total assets | 21,607,388) | 18,113,469) | 18,809,227) | 20,721,344) | 29,522,604) | |
| Common shareholders’ equity | 10,029,527) | 9,255,240) | 9,803,588) | 10,958,229) | 13,319,618) | |
| Solvency Ratio | ||||||
| Financial leverage1 | 2.15 | 1.96 | 1.92 | 1.89 | 2.22 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| Chevron Corp. | 1.72 | 1.82 | 1.65 | — | — | |
| ConocoPhillips | 2.00 | 2.10 | 2.02 | — | — | |
| Exxon Mobil Corp. | 2.01 | 2.12 | 1.89 | — | — | |
| Marathon Petroleum Corp. | 3.26 | 3.84 | 2.93 | — | — | |
| Occidental Petroleum Corp. | 3.69 | 4.31 | 3.19 | — | — | |
| Valero Energy Corp. | 3.14 | 2.75 | 2.47 | — | — | |
| Financial Leverage, Sector | ||||||
| Oil, Gas & Consumable Fuels | 2.12 | 2.25 | 2.02 | — | — | |
| Financial Leverage, Industry | ||||||
| Energy | 2.15 | 2.29 | 2.04 | — | — | |
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).
1 2021 Calculation
Financial leverage = Total assets ÷ Common shareholders’ equity
= 21,607,388 ÷ 10,029,527 = 2.15
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | EQT Corp. financial leverage ratio increased from 2019 to 2020 and from 2020 to 2021. |
Interest Coverage
EQT Corp., interest coverage calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income (loss) attributable to EQT Corporation | (1,155,759) | (967,166) | (1,221,695) | (2,244,568) | 1,508,529) | |
| Add: Net income attributable to noncontrolling interest | 1,246) | (10) | —) | 237,410) | 349,613) | |
| Less: Income from discontinued operations, net of tax | —) | —) | —) | 373,762) | 471,113) | |
| Add: Income tax expense | (434,175) | (298,858) | (375,776) | (696,511) | (1,188,416) | |
| Add: Interest expense | 308,903) | 271,200) | 199,851) | 228,958) | 167,971) | |
| Earnings before interest and tax (EBIT) | (1,279,785) | (994,834) | (1,397,620) | (2,848,473) | 366,584) | |
| Solvency Ratio | ||||||
| Interest coverage1 | -4.14 | -3.67 | -6.99 | -12.44 | 2.18 | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| Chevron Corp. | 31.39 | -9.69 | 7.94 | — | — | |
| ConocoPhillips | 15.38 | -2.90 | 13.24 | — | — | |
| Exxon Mobil Corp. | 33.98 | -23.94 | 25.16 | — | — | |
| Marathon Petroleum Corp. | 3.22 | -9.21 | 4.50 | — | — | |
| Occidental Petroleum Corp. | 3.30 | -10.03 | 1.17 | — | — | |
| Valero Energy Corp. | 3.56 | -2.57 | 8.68 | — | — | |
| Interest Coverage, Sector | ||||||
| Oil, Gas & Consumable Fuels | 13.22 | -10.84 | 9.35 | — | — | |
| Interest Coverage, Industry | ||||||
| Energy | 12.58 | -11.55 | 6.66 | — | — | |
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).
1 2021 Calculation
Interest coverage = EBIT ÷ Interest expense
= -1,279,785 ÷ 308,903 = -4.14
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | EQT Corp. interest coverage ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
Fixed Charge Coverage
EQT Corp., fixed charge coverage calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income (loss) attributable to EQT Corporation | (1,155,759) | (967,166) | (1,221,695) | (2,244,568) | 1,508,529) | |
| Add: Net income attributable to noncontrolling interest | 1,246) | (10) | —) | 237,410) | 349,613) | |
| Less: Income from discontinued operations, net of tax | —) | —) | —) | 373,762) | 471,113) | |
| Add: Income tax expense | (434,175) | (298,858) | (375,776) | (696,511) | (1,188,416) | |
| Add: Interest expense | 308,903) | 271,200) | 199,851) | 228,958) | 167,971) | |
| Earnings before interest and tax (EBIT) | (1,279,785) | (994,834) | (1,397,620) | (2,848,473) | 366,584) | |
| Add: Operating and finance lease costs | 19,826) | 28,286) | 57,517) | 117,400) | 60,800) | |
| Earnings before fixed charges and tax | (1,259,959) | (966,548) | (1,340,103) | (2,731,073) | 427,384) | |
| Interest expense | 308,903) | 271,200) | 199,851) | 228,958) | 167,971) | |
| Operating and finance lease costs | 19,826) | 28,286) | 57,517) | 117,400) | 60,800) | |
| Fixed charges | 328,729) | 299,486) | 257,368) | 346,358) | 228,771) | |
| Solvency Ratio | ||||||
| Fixed charge coverage1 | -3.83 | -3.23 | -5.21 | -7.89 | 1.87 | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| Chevron Corp. | 8.43 | -1.29 | 2.62 | — | — | |
| ConocoPhillips | 11.94 | -1.79 | 9.51 | — | — | |
| Exxon Mobil Corp. | 9.13 | -5.68 | 5.66 | — | — | |
| Marathon Petroleum Corp. | 2.52 | -5.84 | 3.13 | — | — | |
| Occidental Petroleum Corp. | 1.78 | -4.00 | 0.91 | — | — | |
| Valero Energy Corp. | 2.57 | -1.02 | 4.90 | — | — | |
| Fixed Charge Coverage, Sector | ||||||
| Oil, Gas & Consumable Fuels | 6.12 | -3.78 | 4.01 | — | — | |
| Fixed Charge Coverage, Industry | ||||||
| Energy | 5.71 | -3.89 | 2.96 | — | — | |
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).
1 2021 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= -1,259,959 ÷ 328,729 = -3.83
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | EQT Corp. fixed charge coverage ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |