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)
Expand Energy Corp., solvency ratios
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).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Expand Energy Corp. debt to equity ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Expand Energy Corp. debt to equity ratio (including operating lease liability) improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Expand Energy Corp. debt to capital ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
| 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. | Expand Energy Corp. debt to capital ratio (including operating lease liability) improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Expand Energy Corp. debt to assets ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Expand Energy Corp. debt to assets ratio (including operating lease liability) improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Expand Energy Corp. financial leverage ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 not reaching 2022 level. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Expand Energy Corp. interest coverage ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Expand Energy Corp. fixed charge coverage ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Debt to Equity
Expand Energy Corp., debt to equity calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Current maturities of long-term debt, net | 389) | —) | —) | —) | |
| Long-term debt, net, excluding current maturities | 5,291) | 2,028) | 3,093) | 2,278) | |
| Total debt | 5,680) | 2,028) | 3,093) | 2,278) | |
| Stockholders’ equity | 17,565) | 10,729) | 9,124) | 5,671) | |
| Solvency Ratio | |||||
| Debt to equity1 | 0.32 | 0.19 | 0.34 | 0.40 | |
| Benchmarks | |||||
| Debt to Equity, Competitors2 | |||||
| Chevron Corp. | 0.16 | 0.13 | 0.15 | 0.23 | |
| ConocoPhillips | 0.38 | 0.38 | 0.35 | 0.44 | |
| Exxon Mobil Corp. | 0.16 | 0.20 | 0.21 | 0.28 | |
| Occidental Petroleum Corp. | 0.76 | 0.65 | 0.66 | 1.46 | |
| Debt to Equity, Sector | |||||
| Oil, Gas & Consumable Fuels | 0.23 | 0.23 | 0.24 | 0.35 | |
| Debt to Equity, Industry | |||||
| Energy | 0.24 | 0.24 | 0.25 | 0.37 | |
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 2024 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 5,680 ÷ 17,565 = 0.32
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. | Expand Energy Corp. debt to equity ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
Debt to Equity (including Operating Lease Liability)
Expand Energy Corp., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Current maturities of long-term debt, net | 389) | —) | —) | —) | |
| Long-term debt, net, excluding current maturities | 5,291) | 2,028) | 3,093) | 2,278) | |
| Total debt | 5,680) | 2,028) | 3,093) | 2,278) | |
| Current operating lease liabilities | 71) | 84) | 86) | 29) | |
| Long-term operating lease liabilities | 74) | 15) | 33) | 9) | |
| Total debt (including operating lease liability) | 5,825) | 2,127) | 3,212) | 2,316) | |
| Stockholders’ equity | 17,565) | 10,729) | 9,124) | 5,671) | |
| Solvency Ratio | |||||
| Debt to equity (including operating lease liability)1 | 0.33 | 0.20 | 0.35 | 0.41 | |
| Benchmarks | |||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | |||||
| Chevron Corp. | 0.19 | 0.16 | 0.17 | 0.25 | |
| ConocoPhillips | 0.39 | 0.40 | 0.36 | 0.45 | |
| Exxon Mobil Corp. | 0.18 | 0.23 | 0.24 | 0.31 | |
| Occidental Petroleum Corp. | 0.79 | 0.69 | 0.69 | 1.49 | |
| Debt to Equity (including Operating Lease Liability), Sector | |||||
| Oil, Gas & Consumable Fuels | 0.26 | 0.26 | 0.26 | 0.37 | |
| Debt to Equity (including Operating Lease Liability), Industry | |||||
| Energy | 0.27 | 0.27 | 0.28 | 0.40 | |
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 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= 5,825 ÷ 17,565 = 0.33
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. | Expand Energy Corp. debt to equity ratio (including operating lease liability) improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
Debt to Capital
Expand Energy Corp., debt to capital calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Current maturities of long-term debt, net | 389) | —) | —) | —) | |
| Long-term debt, net, excluding current maturities | 5,291) | 2,028) | 3,093) | 2,278) | |
| Total debt | 5,680) | 2,028) | 3,093) | 2,278) | |
| Stockholders’ equity | 17,565) | 10,729) | 9,124) | 5,671) | |
| Total capital | 23,245) | 12,757) | 12,217) | 7,949) | |
| Solvency Ratio | |||||
| Debt to capital1 | 0.24 | 0.16 | 0.25 | 0.29 | |
| Benchmarks | |||||
| Debt to Capital, Competitors2 | |||||
| Chevron Corp. | 0.14 | 0.11 | 0.13 | 0.18 | |
| ConocoPhillips | 0.27 | 0.28 | 0.26 | 0.31 | |
| Exxon Mobil Corp. | 0.14 | 0.17 | 0.17 | 0.22 | |
| Occidental Petroleum Corp. | 0.43 | 0.39 | 0.40 | 0.59 | |
| Debt to Capital, Sector | |||||
| Oil, Gas & Consumable Fuels | 0.19 | 0.18 | 0.19 | 0.26 | |
| Debt to Capital, Industry | |||||
| Energy | 0.20 | 0.19 | 0.20 | 0.27 | |
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 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 5,680 ÷ 23,245 = 0.24
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. | Expand Energy Corp. debt to capital ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
Debt to Capital (including Operating Lease Liability)
Expand Energy Corp., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Current maturities of long-term debt, net | 389) | —) | —) | —) | |
| Long-term debt, net, excluding current maturities | 5,291) | 2,028) | 3,093) | 2,278) | |
| Total debt | 5,680) | 2,028) | 3,093) | 2,278) | |
| Current operating lease liabilities | 71) | 84) | 86) | 29) | |
| Long-term operating lease liabilities | 74) | 15) | 33) | 9) | |
| Total debt (including operating lease liability) | 5,825) | 2,127) | 3,212) | 2,316) | |
| Stockholders’ equity | 17,565) | 10,729) | 9,124) | 5,671) | |
| Total capital (including operating lease liability) | 23,390) | 12,856) | 12,336) | 7,987) | |
| Solvency Ratio | |||||
| Debt to capital (including operating lease liability)1 | 0.25 | 0.17 | 0.26 | 0.29 | |
| Benchmarks | |||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | |||||
| Chevron Corp. | 0.16 | 0.14 | 0.15 | 0.20 | |
| ConocoPhillips | 0.28 | 0.28 | 0.26 | 0.31 | |
| Exxon Mobil Corp. | 0.15 | 0.19 | 0.19 | 0.24 | |
| Occidental Petroleum Corp. | 0.44 | 0.41 | 0.41 | 0.60 | |
| Debt to Capital (including Operating Lease Liability), Sector | |||||
| Oil, Gas & Consumable Fuels | 0.20 | 0.20 | 0.21 | 0.27 | |
| Debt to Capital (including Operating Lease Liability), Industry | |||||
| Energy | 0.21 | 0.21 | 0.22 | 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).
1 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 5,825 ÷ 23,390 = 0.25
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. | Expand Energy Corp. debt to capital ratio (including operating lease liability) improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
Debt to Assets
Expand Energy Corp., debt to assets calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Current maturities of long-term debt, net | 389) | —) | —) | —) | |
| Long-term debt, net, excluding current maturities | 5,291) | 2,028) | 3,093) | 2,278) | |
| Total debt | 5,680) | 2,028) | 3,093) | 2,278) | |
| Total assets | 27,894) | 14,376) | 15,468) | 11,009) | |
| Solvency Ratio | |||||
| Debt to assets1 | 0.20 | 0.14 | 0.20 | 0.21 | |
| Benchmarks | |||||
| Debt to Assets, Competitors2 | |||||
| Chevron Corp. | 0.10 | 0.08 | 0.09 | 0.13 | |
| ConocoPhillips | 0.20 | 0.20 | 0.18 | 0.22 | |
| Exxon Mobil Corp. | 0.09 | 0.11 | 0.11 | 0.14 | |
| Occidental Petroleum Corp. | 0.31 | 0.27 | 0.27 | 0.39 | |
| Debt to Assets, Sector | |||||
| Oil, Gas & Consumable Fuels | 0.13 | 0.13 | 0.13 | 0.17 | |
| Debt to Assets, Industry | |||||
| Energy | 0.14 | 0.13 | 0.14 | 0.18 | |
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 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 5,680 ÷ 27,894 = 0.20
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. | Expand Energy Corp. debt to assets ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Debt to Assets (including Operating Lease Liability)
Expand Energy Corp., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Current maturities of long-term debt, net | 389) | —) | —) | —) | |
| Long-term debt, net, excluding current maturities | 5,291) | 2,028) | 3,093) | 2,278) | |
| Total debt | 5,680) | 2,028) | 3,093) | 2,278) | |
| Current operating lease liabilities | 71) | 84) | 86) | 29) | |
| Long-term operating lease liabilities | 74) | 15) | 33) | 9) | |
| Total debt (including operating lease liability) | 5,825) | 2,127) | 3,212) | 2,316) | |
| Total assets | 27,894) | 14,376) | 15,468) | 11,009) | |
| Solvency Ratio | |||||
| Debt to assets (including operating lease liability)1 | 0.21 | 0.15 | 0.21 | 0.21 | |
| Benchmarks | |||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | |||||
| Chevron Corp. | 0.12 | 0.10 | 0.11 | 0.15 | |
| ConocoPhillips | 0.21 | 0.20 | 0.18 | 0.23 | |
| Exxon Mobil Corp. | 0.11 | 0.13 | 0.13 | 0.16 | |
| Occidental Petroleum Corp. | 0.32 | 0.28 | 0.29 | 0.40 | |
| Debt to Assets (including Operating Lease Liability), Sector | |||||
| Oil, Gas & Consumable Fuels | 0.14 | 0.14 | 0.14 | 0.19 | |
| Debt to Assets (including Operating Lease Liability), Industry | |||||
| Energy | 0.15 | 0.15 | 0.15 | 0.20 | |
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 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 5,825 ÷ 27,894 = 0.21
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. | Expand Energy Corp. debt to assets ratio (including operating lease liability) improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Financial Leverage
Expand Energy Corp., financial leverage calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Total assets | 27,894) | 14,376) | 15,468) | 11,009) | |
| Stockholders’ equity | 17,565) | 10,729) | 9,124) | 5,671) | |
| Solvency Ratio | |||||
| Financial leverage1 | 1.59 | 1.34 | 1.70 | 1.94 | |
| Benchmarks | |||||
| Financial Leverage, Competitors2 | |||||
| Chevron Corp. | 1.69 | 1.63 | 1.62 | 1.72 | |
| ConocoPhillips | 1.89 | 1.95 | 1.95 | 2.00 | |
| Exxon Mobil Corp. | 1.72 | 1.84 | 1.89 | 2.01 | |
| Occidental Petroleum Corp. | 2.50 | 2.45 | 2.41 | 3.69 | |
| Financial Leverage, Sector | |||||
| Oil, Gas & Consumable Fuels | 1.78 | 1.80 | 1.83 | 1.99 | |
| Financial Leverage, Industry | |||||
| Energy | 1.80 | 1.83 | 1.85 | 2.02 | |
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 2024 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 27,894 ÷ 17,565 = 1.59
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. | Expand Energy Corp. financial leverage ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 not reaching 2022 level. |
Interest Coverage
Expand Energy Corp., interest coverage calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income (loss) | (714) | 2,419) | 4,936) | 6,328) | |
| Add: Income tax expense | (127) | 698) | (1,285) | (106) | |
| Add: Interest expense | 123) | 104) | 160) | 84) | |
| Earnings before interest and tax (EBIT) | (718) | 3,221) | 3,811) | 6,306) | |
| Solvency Ratio | |||||
| Interest coverage1 | -5.84 | 30.97 | 23.82 | 75.07 | |
| Benchmarks | |||||
| Interest Coverage, Competitors2 | |||||
| Chevron Corp. | 47.31 | 64.08 | 97.27 | 31.39 | |
| ConocoPhillips | 18.46 | 21.88 | 36.07 | 15.38 | |
| Exxon Mobil Corp. | 50.07 | 63.17 | 98.43 | 33.98 | |
| Occidental Petroleum Corp. | 4.46 | 7.80 | 14.71 | 3.30 | |
| Interest Coverage, Sector | |||||
| Oil, Gas & Consumable Fuels | 26.41 | 35.38 | 53.41 | 18.81 | |
| Interest Coverage, Industry | |||||
| Energy | 24.66 | 32.09 | 47.77 | 17.29 | |
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 2024 Calculation
Interest coverage = EBIT ÷ Interest expense
= -718 ÷ 123 = -5.84
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. | Expand Energy Corp. interest coverage ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Fixed Charge Coverage
Expand Energy Corp., fixed charge coverage calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|
| Federal statutory tax rate | 21.00% | 21.00% | 21.00% | 21.00% | |
| Selected Financial Data (US$ in millions) | |||||
| Net income (loss) | (714) | 2,419) | 4,936) | 6,328) | |
| Add: Income tax expense | (127) | 698) | (1,285) | (106) | |
| Add: Interest expense | 123) | 104) | 160) | 84) | |
| Earnings before interest and tax (EBIT) | (718) | 3,221) | 3,811) | 6,306) | |
| Add: Operating lease cost | 88) | 107) | 51) | 36) | |
| Earnings before fixed charges and tax | (630) | 3,328) | 3,862) | 6,342) | |
| Interest expense | 123) | 104) | 160) | 84) | |
| Operating lease cost | 88) | 107) | 51) | 36) | |
| Deemed dividend on warrants | —) | —) | 67) | —) | |
| Deemed dividend on warrants, tax adjustment1 | —) | —) | 18) | —) | |
| Deemed dividend on warrants, after tax adjustment | —) | —) | 85) | —) | |
| Fixed charges | 211) | 211) | 296) | 120) | |
| Solvency Ratio | |||||
| Fixed charge coverage2 | -2.99 | 15.77 | 13.06 | 52.85 | |
| Benchmarks | |||||
| Fixed Charge Coverage, Competitors3 | |||||
| Chevron Corp. | 7.81 | 9.57 | 18.28 | 8.43 | |
| ConocoPhillips | 13.34 | 17.14 | 28.76 | 11.94 | |
| Exxon Mobil Corp. | 15.85 | 19.68 | 31.21 | 13.55 | |
| Occidental Petroleum Corp. | 2.26 | 3.09 | 6.42 | 1.78 | |
| Fixed Charge Coverage, Sector | |||||
| Oil, Gas & Consumable Fuels | 9.25 | 11.69 | 19.77 | 8.36 | |
| Fixed Charge Coverage, Industry | |||||
| Energy | 8.48 | 10.43 | 17.25 | 7.48 | |
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 2024 Calculation
Deemed dividend on warrants, tax adjustment = (Deemed dividend on warrants × Federal statutory tax rate) ÷ (1 − Federal statutory tax rate)
= (0 × 21.00%) ÷ (1 − 21.00%) = 0
2 2024 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= -630 ÷ 211 = -2.99
3 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. | Expand Energy Corp. fixed charge coverage ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |