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)
EOG Resources Inc., solvency ratios
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).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | EOG Resources Inc. debt to equity ratio improved from 2017 to 2018 and from 2018 to 2019. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | EOG Resources Inc. debt to equity ratio (including operating lease liability) improved from 2017 to 2018 and from 2018 to 2019. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | EOG Resources Inc. debt to capital ratio improved from 2017 to 2018 and from 2018 to 2019. |
| 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. | EOG Resources Inc. debt to capital ratio (including operating lease liability) improved from 2017 to 2018 and from 2018 to 2019. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | EOG Resources Inc. debt to assets ratio improved from 2017 to 2018 and from 2018 to 2019. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | EOG Resources Inc. debt to assets ratio (including operating lease liability) improved from 2017 to 2018 and from 2018 to 2019. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | EOG Resources Inc. financial leverage ratio decreased from 2017 to 2018 and from 2018 to 2019. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | EOG Resources Inc. interest coverage ratio improved from 2017 to 2018 and from 2018 to 2019. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | EOG Resources Inc. fixed charge coverage ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019. |
Debt to Equity
EOG Resources Inc., debt to equity calculation, comparison to benchmarks
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of long-term debt | 1,014,524) | 913,093) | 356,235) | 6,579) | 6,579) | |
| Long-term debt, excluding current portion | 4,160,919) | 5,170,169) | 6,030,836) | 6,979,779) | 6,653,685) | |
| Total debt | 5,175,443) | 6,083,262) | 6,387,071) | 6,986,358) | 6,660,264) | |
| Stockholders’ equity | 21,640,716) | 19,364,188) | 16,283,273) | 13,981,581) | 12,943,035) | |
| Solvency Ratio | ||||||
| Debt to equity1 | 0.24 | 0.31 | 0.39 | 0.50 | 0.51 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| Chevron Corp. | — | — | — | — | — | |
| ConocoPhillips | — | — | — | — | — | |
| Exxon Mobil Corp. | — | — | — | — | — | |
| Occidental Petroleum Corp. | — | — | — | — | — | |
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).
1 2019 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 5,175,443 ÷ 21,640,716 = 0.24
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. | EOG Resources Inc. debt to equity ratio improved from 2017 to 2018 and from 2018 to 2019. |
Debt to Equity (including Operating Lease Liability)
EOG Resources Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of long-term debt | 1,014,524) | 913,093) | 356,235) | 6,579) | 6,579) | |
| Long-term debt, excluding current portion | 4,160,919) | 5,170,169) | 6,030,836) | 6,979,779) | 6,653,685) | |
| Total debt | 5,175,443) | 6,083,262) | 6,387,071) | 6,986,358) | 6,660,264) | |
| Current portion of operating lease liabilities | 369,365) | —) | —) | —) | —) | |
| Operating lease liabilities, excluding current portion (located in Other liabilities) | 430,000) | —) | —) | —) | —) | |
| Total debt (including operating lease liability) | 5,974,808) | 6,083,262) | 6,387,071) | 6,986,358) | 6,660,264) | |
| Stockholders’ equity | 21,640,716) | 19,364,188) | 16,283,273) | 13,981,581) | 12,943,035) | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | 0.28 | 0.31 | 0.39 | 0.50 | 0.51 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| Chevron Corp. | — | — | — | — | — | |
| ConocoPhillips | — | — | — | — | — | |
| Exxon Mobil Corp. | — | — | — | — | — | |
| Occidental Petroleum Corp. | — | — | — | — | — | |
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).
1 2019 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= 5,974,808 ÷ 21,640,716 = 0.28
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. | EOG Resources Inc. debt to equity ratio (including operating lease liability) improved from 2017 to 2018 and from 2018 to 2019. |
Debt to Capital
EOG Resources Inc., debt to capital calculation, comparison to benchmarks
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of long-term debt | 1,014,524) | 913,093) | 356,235) | 6,579) | 6,579) | |
| Long-term debt, excluding current portion | 4,160,919) | 5,170,169) | 6,030,836) | 6,979,779) | 6,653,685) | |
| Total debt | 5,175,443) | 6,083,262) | 6,387,071) | 6,986,358) | 6,660,264) | |
| Stockholders’ equity | 21,640,716) | 19,364,188) | 16,283,273) | 13,981,581) | 12,943,035) | |
| Total capital | 26,816,159) | 25,447,450) | 22,670,344) | 20,967,939) | 19,603,299) | |
| Solvency Ratio | ||||||
| Debt to capital1 | 0.19 | 0.24 | 0.28 | 0.33 | 0.34 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| Chevron Corp. | — | — | — | — | — | |
| ConocoPhillips | — | — | — | — | — | |
| Exxon Mobil Corp. | — | — | — | — | — | |
| Occidental Petroleum Corp. | — | — | — | — | — | |
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).
1 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= 5,175,443 ÷ 26,816,159 = 0.19
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. | EOG Resources Inc. debt to capital ratio improved from 2017 to 2018 and from 2018 to 2019. |
Debt to Capital (including Operating Lease Liability)
EOG Resources Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of long-term debt | 1,014,524) | 913,093) | 356,235) | 6,579) | 6,579) | |
| Long-term debt, excluding current portion | 4,160,919) | 5,170,169) | 6,030,836) | 6,979,779) | 6,653,685) | |
| Total debt | 5,175,443) | 6,083,262) | 6,387,071) | 6,986,358) | 6,660,264) | |
| Current portion of operating lease liabilities | 369,365) | —) | —) | —) | —) | |
| Operating lease liabilities, excluding current portion (located in Other liabilities) | 430,000) | —) | —) | —) | —) | |
| Total debt (including operating lease liability) | 5,974,808) | 6,083,262) | 6,387,071) | 6,986,358) | 6,660,264) | |
| Stockholders’ equity | 21,640,716) | 19,364,188) | 16,283,273) | 13,981,581) | 12,943,035) | |
| Total capital (including operating lease liability) | 27,615,524) | 25,447,450) | 22,670,344) | 20,967,939) | 19,603,299) | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 0.22 | 0.24 | 0.28 | 0.33 | 0.34 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| Chevron Corp. | — | — | — | — | — | |
| ConocoPhillips | — | — | — | — | — | |
| Exxon Mobil Corp. | — | — | — | — | — | |
| Occidental Petroleum Corp. | — | — | — | — | — | |
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).
1 2019 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 5,974,808 ÷ 27,615,524 = 0.22
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. | EOG Resources Inc. debt to capital ratio (including operating lease liability) improved from 2017 to 2018 and from 2018 to 2019. |
Debt to Assets
EOG Resources Inc., debt to assets calculation, comparison to benchmarks
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of long-term debt | 1,014,524) | 913,093) | 356,235) | 6,579) | 6,579) | |
| Long-term debt, excluding current portion | 4,160,919) | 5,170,169) | 6,030,836) | 6,979,779) | 6,653,685) | |
| Total debt | 5,175,443) | 6,083,262) | 6,387,071) | 6,986,358) | 6,660,264) | |
| Total assets | 37,124,608) | 33,934,474) | 29,833,078) | 29,459,433) | 26,975,244) | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.14 | 0.18 | 0.21 | 0.24 | 0.25 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| Chevron Corp. | — | — | — | — | — | |
| ConocoPhillips | — | — | — | — | — | |
| Exxon Mobil Corp. | — | — | — | — | — | |
| Occidental Petroleum Corp. | — | — | — | — | — | |
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).
1 2019 Calculation
Debt to assets = Total debt ÷ Total assets
= 5,175,443 ÷ 37,124,608 = 0.14
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. | EOG Resources Inc. debt to assets ratio improved from 2017 to 2018 and from 2018 to 2019. |
Debt to Assets (including Operating Lease Liability)
EOG Resources Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of long-term debt | 1,014,524) | 913,093) | 356,235) | 6,579) | 6,579) | |
| Long-term debt, excluding current portion | 4,160,919) | 5,170,169) | 6,030,836) | 6,979,779) | 6,653,685) | |
| Total debt | 5,175,443) | 6,083,262) | 6,387,071) | 6,986,358) | 6,660,264) | |
| Current portion of operating lease liabilities | 369,365) | —) | —) | —) | —) | |
| Operating lease liabilities, excluding current portion (located in Other liabilities) | 430,000) | —) | —) | —) | —) | |
| Total debt (including operating lease liability) | 5,974,808) | 6,083,262) | 6,387,071) | 6,986,358) | 6,660,264) | |
| Total assets | 37,124,608) | 33,934,474) | 29,833,078) | 29,459,433) | 26,975,244) | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.16 | 0.18 | 0.21 | 0.24 | 0.25 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| Chevron Corp. | — | — | — | — | — | |
| ConocoPhillips | — | — | — | — | — | |
| Exxon Mobil Corp. | — | — | — | — | — | |
| Occidental Petroleum Corp. | — | — | — | — | — | |
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).
1 2019 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 5,974,808 ÷ 37,124,608 = 0.16
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. | EOG Resources Inc. debt to assets ratio (including operating lease liability) improved from 2017 to 2018 and from 2018 to 2019. |
Financial Leverage
EOG Resources Inc., financial leverage calculation, comparison to benchmarks
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Total assets | 37,124,608) | 33,934,474) | 29,833,078) | 29,459,433) | 26,975,244) | |
| Stockholders’ equity | 21,640,716) | 19,364,188) | 16,283,273) | 13,981,581) | 12,943,035) | |
| Solvency Ratio | ||||||
| Financial leverage1 | 1.72 | 1.75 | 1.83 | 2.11 | 2.08 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| Chevron Corp. | — | — | — | — | — | |
| ConocoPhillips | — | — | — | — | — | |
| Exxon Mobil Corp. | — | — | — | — | — | |
| Occidental Petroleum Corp. | — | — | — | — | — | |
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).
1 2019 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 37,124,608 ÷ 21,640,716 = 1.72
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. | EOG Resources Inc. financial leverage ratio decreased from 2017 to 2018 and from 2018 to 2019. |
Interest Coverage
EOG Resources Inc., interest coverage calculation, comparison to benchmarks
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income (loss) | 2,734,910) | 3,419,040) | 2,582,579) | (1,096,686) | (4,524,515) | |
| Add: Income tax expense | 810,357) | 821,958) | (1,921,397) | (460,819) | (2,397,041) | |
| Add: Net interest expense | 185,129) | 245,052) | 274,372) | 281,681) | 237,393) | |
| Earnings before interest and tax (EBIT) | 3,730,396) | 4,486,050) | 935,554) | (1,275,824) | (6,684,163) | |
| Solvency Ratio | ||||||
| Interest coverage1 | 20.15 | 18.31 | 3.41 | -4.53 | -28.16 | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| Chevron Corp. | — | — | — | — | — | |
| ConocoPhillips | — | — | — | — | — | |
| Exxon Mobil Corp. | — | — | — | — | — | |
| Occidental Petroleum Corp. | — | — | — | — | — | |
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).
1 2019 Calculation
Interest coverage = EBIT ÷ Interest expense
= 3,730,396 ÷ 185,129 = 20.15
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. | EOG Resources Inc. interest coverage ratio improved from 2017 to 2018 and from 2018 to 2019. |
Fixed Charge Coverage
EOG Resources Inc., fixed charge coverage calculation, comparison to benchmarks
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income (loss) | 2,734,910) | 3,419,040) | 2,582,579) | (1,096,686) | (4,524,515) | |
| Add: Income tax expense | 810,357) | 821,958) | (1,921,397) | (460,819) | (2,397,041) | |
| Add: Net interest expense | 185,129) | 245,052) | 274,372) | 281,681) | 237,393) | |
| Earnings before interest and tax (EBIT) | 3,730,396) | 4,486,050) | 935,554) | (1,275,824) | (6,684,163) | |
| Add: Operating lease cost | 497,000) | 233,000) | 200,000) | 204,000) | 229,000) | |
| Earnings before fixed charges and tax | 4,227,396) | 4,719,050) | 1,135,554) | (1,071,824) | (6,455,163) | |
| Net interest expense | 185,129) | 245,052) | 274,372) | 281,681) | 237,393) | |
| Operating lease cost | 497,000) | 233,000) | 200,000) | 204,000) | 229,000) | |
| Fixed charges | 682,129) | 478,052) | 474,372) | 485,681) | 466,393) | |
| Solvency Ratio | ||||||
| Fixed charge coverage1 | 6.20 | 9.87 | 2.39 | -2.21 | -13.84 | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| Chevron Corp. | — | — | — | — | — | |
| ConocoPhillips | — | — | — | — | — | |
| Exxon Mobil Corp. | — | — | — | — | — | |
| Occidental Petroleum Corp. | — | — | — | — | — | |
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).
1 2019 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 4,227,396 ÷ 682,129 = 6.20
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. | EOG Resources Inc. fixed charge coverage ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019. |