Stock Analysis on Net

Marathon Oil Corp. (NYSE:MRO)

$22.49

This company has been moved to the archive! The financial data has not been updated since August 4, 2022.

Debt to Equity
since 2005

Microsoft Excel

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Calculation

Marathon Oil Corp., debt to equity, long-term trends, calculation

Microsoft Excel

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), 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 millions


Commercial paper and long-term debt
The company's total commercial paper and long-term debt shows considerable fluctuations over the analyzed period. Starting at $4,013 million at the end of 2005, the debt level initially decreased to $3,532 million by 2006, before sharply increasing to a peak of $8,532 million in 2009. Subsequently, debt levels generally declined with some volatility, falling to $4,014 million by the end of 2021. Notably, the debt increased again in 2010 but then trended downward with intermittent rises, indicating periods of debt management and possibly capital restructuring efforts.
Stockholders’ equity
Stockholders’ equity demonstrated overall growth from $11,705 million in 2005 to a peak of $23,771 million in 2010, reflecting a significant strengthening in shareholder value during these years. However, after 2010, equity declined sharply to $11,708 million by 2017, implying either large distributions, losses, or other equity-reducing events. There was a slight recovery and stabilization in the following years, with equity levels maintaining around $10,500 million to $12,000 million from 2017 through 2021.
Debt to equity ratio
The debt to equity ratio exhibited variability but remained within a range of approximately 0.24 to 0.51 throughout the period, indicating moderate leverage. After reaching a low of 0.24 in 2006, the ratio rose to around 0.39-0.41 during 2009-2011, reflecting increased borrowing relative to equity. The highest leverage ratio of 0.51 was recorded in 2020, suggesting peak debt reliance relative to equity at that time. Following this, the ratio slightly decreased to 0.38 by 2021. These fluctuations align with the observed changes in both debt and equity levels, signaling cyclical adjustments in capital structure.
Summary of trends and implications
The data reveals a period of aggressive debt accumulation leading up to 2009, paralleled by growth in stockholders’ equity through 2010, suggesting expansionary activities financed through a balanced mix of debt and equity. The subsequent decline in equity and variable debt levels indicate potential financial challenges or strategic shifts affecting capital structure. The increasing leverage ratio toward 2020 suggests elevated financial risk or liquidity needs, possibly due to external pressures or investment requirements. The partial rebound in equity and manageable decline in debt ratio by 2021 may reflect efforts to stabilize the financial position. Overall, the company maintained moderate leverage with notable temporal variability in capital resources.

Comparison to Competitors

Marathon Oil Corp., debt to equity, long-term trends, comparison to competitors

Microsoft Excel

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), 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)

Marathon Oil Corp., debt to equity, long-term trends, comparison to sector (oil, gas & consumable fuels)

Microsoft Excel

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), 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)