Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Hess Corp., solvency ratios (quarterly data)
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 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).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Hess Corp. debt to equity ratio improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
| Debt to equity (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Hess Corp. debt to equity ratio (including operating lease liability) improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Hess Corp. debt to capital ratio improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
| Debt to capital (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Hess Corp. debt to capital ratio (including operating lease liability) improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Hess Corp. debt to assets ratio improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
| Debt to assets (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Hess Corp. debt to assets ratio (including operating lease liability) improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Hess Corp. financial leverage ratio decreased from Q1 2023 to Q2 2023 but then slightly increased from Q2 2023 to Q3 2023. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Hess Corp. interest coverage ratio deteriorated from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
Debt to Equity
Hess Corp., debt to equity calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Current portion of long-term debt | 307) | 8) | 5) | 3) | —) | —) | 22) | 517) | 514) | 511) | 13) | 10) | 8) | 5) | 3) | —) | 15) | 14) | 12) | 67) | 85) | 87) | 196) | |||||||
| Long-term debt, excluding current portion | 8,241) | 8,459) | 8,382) | 8,278) | 8,303) | 8,332) | 7,934) | 7,941) | 7,993) | 7,712) | 8,273) | 8,286) | 8,280) | 8,205) | 8,191) | 7,142) | 6,526) | 6,511) | 6,550) | 6,605) | 6,609) | 6,352) | 6,372) | |||||||
| Long-term finance lease obligations | 163) | 168) | 174) | 179) | 185) | 190) | 195) | 200) | 205) | 210) | 215) | 220) | 224) | 229) | 233) | 238) | 242) | 246) | 250) | —) | —) | —) | —) | |||||||
| Total debt | 8,711) | 8,635) | 8,561) | 8,460) | 8,488) | 8,522) | 8,151) | 8,658) | 8,712) | 8,433) | 8,501) | 8,516) | 8,512) | 8,439) | 8,427) | 7,380) | 6,783) | 6,771) | 6,812) | 6,672) | 6,694) | 6,439) | 6,568) | |||||||
| Total Hess Corporation stockholders’ equity | 8,631) | 8,272) | 8,133) | 7,855) | 7,559) | 7,136) | 6,308) | 6,300) | 5,609) | 5,488) | 5,616) | 5,366) | 5,916) | 6,395) | 7,200) | 8,732) | 8,908) | 9,294) | 9,342) | 9,629) | 9,650) | 9,972) | 10,605) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||
| Debt to equity1 | 1.01 | 1.04 | 1.05 | 1.08 | 1.12 | 1.19 | 1.29 | 1.37 | 1.55 | 1.54 | 1.51 | 1.59 | 1.44 | 1.32 | 1.17 | 0.85 | 0.76 | 0.73 | 0.73 | 0.69 | 0.69 | 0.65 | 0.62 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | 0.12 | 0.14 | 0.15 | 0.15 | 0.15 | 0.17 | 0.20 | 0.23 | 0.27 | 0.32 | 0.34 | 0.34 | 0.26 | 0.25 | 0.22 | 0.19 | 0.21 | 0.20 | 0.21 | — | — | — | — | |||||||
| ConocoPhillips | 0.40 | 0.35 | 0.35 | 0.35 | 0.35 | 0.34 | 0.38 | 0.44 | 0.45 | 0.45 | 0.46 | 0.51 | 0.50 | 0.48 | 0.48 | 0.43 | 0.42 | 0.45 | 0.45 | — | — | — | — | |||||||
| Exxon Mobil Corp. | 0.21 | 0.21 | 0.21 | 0.21 | 0.24 | 0.26 | 0.28 | 0.28 | 0.35 | 0.38 | 0.40 | 0.43 | 0.39 | 0.39 | 0.33 | 0.24 | 0.25 | 0.24 | 0.21 | — | — | — | — | |||||||
| Marathon Petroleum Corp. | 1.05 | 1.06 | 1.02 | 0.96 | 1.02 | 1.02 | 1.11 | 0.97 | 0.97 | 0.98 | 1.50 | 1.42 | 1.42 | 1.35 | 1.31 | 0.86 | 0.85 | 0.83 | 0.83 | — | — | — | — | |||||||
| Occidental Petroleum Corp. | 0.68 | 0.68 | 0.67 | 0.66 | 0.73 | 0.80 | 1.06 | 1.46 | 1.68 | 1.97 | 1.97 | 1.95 | 1.94 | 1.65 | 1.23 | 1.13 | 1.32 | 0.48 | 0.49 | — | — | — | — | |||||||
| Valero Energy Corp. | 0.44 | 0.44 | 0.46 | 0.49 | 0.53 | 0.61 | 0.70 | 0.75 | 0.81 | 0.83 | 0.82 | 0.78 | 0.79 | 0.64 | 0.61 | 0.44 | 0.45 | 0.44 | 0.47 | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 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).
1 Q3 2023 Calculation
Debt to equity = Total debt ÷ Total Hess Corporation stockholders’ equity
= 8,711 ÷ 8,631 = 1.01
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. | Hess Corp. debt to equity ratio improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
Debt to Equity (including Operating Lease Liability)
Hess Corp., debt to equity (including operating lease liability) calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Current portion of long-term debt | 307) | 8) | 5) | 3) | —) | —) | 22) | 517) | 514) | 511) | 13) | 10) | 8) | 5) | 3) | —) | 15) | 14) | 12) | 67) | 85) | 87) | 196) | |||||||
| Long-term debt, excluding current portion | 8,241) | 8,459) | 8,382) | 8,278) | 8,303) | 8,332) | 7,934) | 7,941) | 7,993) | 7,712) | 8,273) | 8,286) | 8,280) | 8,205) | 8,191) | 7,142) | 6,526) | 6,511) | 6,550) | 6,605) | 6,609) | 6,352) | 6,372) | |||||||
| Long-term finance lease obligations | 163) | 168) | 174) | 179) | 185) | 190) | 195) | 200) | 205) | 210) | 215) | 220) | 224) | 229) | 233) | 238) | 242) | 246) | 250) | —) | —) | —) | —) | |||||||
| Total debt | 8,711) | 8,635) | 8,561) | 8,460) | 8,488) | 8,522) | 8,151) | 8,658) | 8,712) | 8,433) | 8,501) | 8,516) | 8,512) | 8,439) | 8,427) | 7,380) | 6,783) | 6,771) | 6,812) | 6,672) | 6,694) | 6,439) | 6,568) | |||||||
| Current portion of operating and finance lease obligations | 200) | 222) | 237) | 221) | 121) | 114) | 91) | 89) | 88) | 90) | 83) | 81) | 99) | 108) | 146) | 199) | 259) | 329) | 402) | —) | —) | —) | —) | |||||||
| Long-term operating lease obligations | 392) | 407) | 422) | 469) | 461) | 457) | 381) | 394) | 410) | 421) | 437) | 478) | 334) | 349) | 357) | 353) | 372) | 395) | 436) | —) | —) | —) | —) | |||||||
| Total debt (including operating lease liability) | 9,303) | 9,264) | 9,220) | 9,150) | 9,070) | 9,093) | 8,623) | 9,141) | 9,210) | 8,944) | 9,021) | 9,075) | 8,945) | 8,896) | 8,930) | 7,932) | 7,414) | 7,495) | 7,650) | 6,672) | 6,694) | 6,439) | 6,568) | |||||||
| Total Hess Corporation stockholders’ equity | 8,631) | 8,272) | 8,133) | 7,855) | 7,559) | 7,136) | 6,308) | 6,300) | 5,609) | 5,488) | 5,616) | 5,366) | 5,916) | 6,395) | 7,200) | 8,732) | 8,908) | 9,294) | 9,342) | 9,629) | 9,650) | 9,972) | 10,605) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||
| Debt to equity (including operating lease liability)1 | 1.08 | 1.12 | 1.13 | 1.16 | 1.20 | 1.27 | 1.37 | 1.45 | 1.64 | 1.63 | 1.61 | 1.69 | 1.51 | 1.39 | 1.24 | 0.91 | 0.83 | 0.81 | 0.82 | 0.69 | 0.69 | 0.65 | 0.62 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||||||||||||||||||||||||||
| Marathon Petroleum Corp. | 1.11 | 1.11 | 1.06 | 1.01 | 1.06 | 1.07 | 1.17 | 1.03 | 1.02 | 1.03 | 1.57 | 1.49 | 1.49 | 1.46 | 1.42 | 0.93 | 0.93 | 0.91 | 0.91 | — | — | — | — | |||||||
| Occidental Petroleum Corp. | 0.71 | 0.71 | 0.70 | 0.69 | 0.76 | 0.83 | 1.09 | 1.49 | 1.72 | 2.02 | 2.02 | 2.01 | 2.00 | 1.70 | 1.27 | 1.17 | 1.35 | 0.51 | 0.52 | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 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).
1 Q3 2023 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Hess Corporation stockholders’ equity
= 9,303 ÷ 8,631 = 1.08
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Hess Corp. debt to equity ratio (including operating lease liability) improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
Debt to Capital
Hess Corp., debt to capital calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Current portion of long-term debt | 307) | 8) | 5) | 3) | —) | —) | 22) | 517) | 514) | 511) | 13) | 10) | 8) | 5) | 3) | —) | 15) | 14) | 12) | 67) | 85) | 87) | 196) | |||||||
| Long-term debt, excluding current portion | 8,241) | 8,459) | 8,382) | 8,278) | 8,303) | 8,332) | 7,934) | 7,941) | 7,993) | 7,712) | 8,273) | 8,286) | 8,280) | 8,205) | 8,191) | 7,142) | 6,526) | 6,511) | 6,550) | 6,605) | 6,609) | 6,352) | 6,372) | |||||||
| Long-term finance lease obligations | 163) | 168) | 174) | 179) | 185) | 190) | 195) | 200) | 205) | 210) | 215) | 220) | 224) | 229) | 233) | 238) | 242) | 246) | 250) | —) | —) | —) | —) | |||||||
| Total debt | 8,711) | 8,635) | 8,561) | 8,460) | 8,488) | 8,522) | 8,151) | 8,658) | 8,712) | 8,433) | 8,501) | 8,516) | 8,512) | 8,439) | 8,427) | 7,380) | 6,783) | 6,771) | 6,812) | 6,672) | 6,694) | 6,439) | 6,568) | |||||||
| Total Hess Corporation stockholders’ equity | 8,631) | 8,272) | 8,133) | 7,855) | 7,559) | 7,136) | 6,308) | 6,300) | 5,609) | 5,488) | 5,616) | 5,366) | 5,916) | 6,395) | 7,200) | 8,732) | 8,908) | 9,294) | 9,342) | 9,629) | 9,650) | 9,972) | 10,605) | |||||||
| Total capital | 17,342) | 16,907) | 16,694) | 16,315) | 16,047) | 15,658) | 14,459) | 14,958) | 14,321) | 13,921) | 14,117) | 13,882) | 14,428) | 14,834) | 15,627) | 16,112) | 15,691) | 16,065) | 16,154) | 16,301) | 16,344) | 16,411) | 17,173) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||
| Debt to capital1 | 0.50 | 0.51 | 0.51 | 0.52 | 0.53 | 0.54 | 0.56 | 0.58 | 0.61 | 0.61 | 0.60 | 0.61 | 0.59 | 0.57 | 0.54 | 0.46 | 0.43 | 0.42 | 0.42 | 0.41 | 0.41 | 0.39 | 0.38 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | 0.11 | 0.12 | 0.13 | 0.13 | 0.13 | 0.15 | 0.17 | 0.18 | 0.22 | 0.24 | 0.26 | 0.25 | 0.21 | 0.20 | 0.18 | 0.16 | 0.17 | 0.16 | 0.18 | — | — | — | — | |||||||
| ConocoPhillips | 0.29 | 0.26 | 0.26 | 0.26 | 0.26 | 0.25 | 0.28 | 0.31 | 0.31 | 0.31 | 0.32 | 0.34 | 0.33 | 0.32 | 0.32 | 0.30 | 0.30 | 0.31 | 0.31 | — | — | — | — | |||||||
| Exxon Mobil Corp. | 0.17 | 0.17 | 0.17 | 0.17 | 0.20 | 0.21 | 0.22 | 0.22 | 0.26 | 0.28 | 0.29 | 0.30 | 0.28 | 0.28 | 0.25 | 0.20 | 0.20 | 0.19 | 0.18 | — | — | — | — | |||||||
| Marathon Petroleum Corp. | 0.51 | 0.51 | 0.50 | 0.49 | 0.50 | 0.50 | 0.53 | 0.49 | 0.49 | 0.49 | 0.60 | 0.59 | 0.59 | 0.58 | 0.57 | 0.46 | 0.46 | 0.45 | 0.45 | — | — | — | — | |||||||
| Occidental Petroleum Corp. | 0.40 | 0.41 | 0.40 | 0.40 | 0.42 | 0.44 | 0.51 | 0.59 | 0.63 | 0.66 | 0.66 | 0.66 | 0.66 | 0.62 | 0.55 | 0.53 | 0.57 | 0.32 | 0.33 | — | — | — | — | |||||||
| Valero Energy Corp. | 0.31 | 0.30 | 0.31 | 0.33 | 0.35 | 0.38 | 0.41 | 0.43 | 0.45 | 0.45 | 0.45 | 0.44 | 0.44 | 0.39 | 0.38 | 0.31 | 0.31 | 0.31 | 0.32 | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 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).
1 Q3 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 8,711 ÷ 17,342 = 0.50
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. | Hess Corp. debt to capital ratio improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
Debt to Capital (including Operating Lease Liability)
Hess Corp., debt to capital (including operating lease liability) calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Current portion of long-term debt | 307) | 8) | 5) | 3) | —) | —) | 22) | 517) | 514) | 511) | 13) | 10) | 8) | 5) | 3) | —) | 15) | 14) | 12) | 67) | 85) | 87) | 196) | |||||||
| Long-term debt, excluding current portion | 8,241) | 8,459) | 8,382) | 8,278) | 8,303) | 8,332) | 7,934) | 7,941) | 7,993) | 7,712) | 8,273) | 8,286) | 8,280) | 8,205) | 8,191) | 7,142) | 6,526) | 6,511) | 6,550) | 6,605) | 6,609) | 6,352) | 6,372) | |||||||
| Long-term finance lease obligations | 163) | 168) | 174) | 179) | 185) | 190) | 195) | 200) | 205) | 210) | 215) | 220) | 224) | 229) | 233) | 238) | 242) | 246) | 250) | —) | —) | —) | —) | |||||||
| Total debt | 8,711) | 8,635) | 8,561) | 8,460) | 8,488) | 8,522) | 8,151) | 8,658) | 8,712) | 8,433) | 8,501) | 8,516) | 8,512) | 8,439) | 8,427) | 7,380) | 6,783) | 6,771) | 6,812) | 6,672) | 6,694) | 6,439) | 6,568) | |||||||
| Current portion of operating and finance lease obligations | 200) | 222) | 237) | 221) | 121) | 114) | 91) | 89) | 88) | 90) | 83) | 81) | 99) | 108) | 146) | 199) | 259) | 329) | 402) | —) | —) | —) | —) | |||||||
| Long-term operating lease obligations | 392) | 407) | 422) | 469) | 461) | 457) | 381) | 394) | 410) | 421) | 437) | 478) | 334) | 349) | 357) | 353) | 372) | 395) | 436) | —) | —) | —) | —) | |||||||
| Total debt (including operating lease liability) | 9,303) | 9,264) | 9,220) | 9,150) | 9,070) | 9,093) | 8,623) | 9,141) | 9,210) | 8,944) | 9,021) | 9,075) | 8,945) | 8,896) | 8,930) | 7,932) | 7,414) | 7,495) | 7,650) | 6,672) | 6,694) | 6,439) | 6,568) | |||||||
| Total Hess Corporation stockholders’ equity | 8,631) | 8,272) | 8,133) | 7,855) | 7,559) | 7,136) | 6,308) | 6,300) | 5,609) | 5,488) | 5,616) | 5,366) | 5,916) | 6,395) | 7,200) | 8,732) | 8,908) | 9,294) | 9,342) | 9,629) | 9,650) | 9,972) | 10,605) | |||||||
| Total capital (including operating lease liability) | 17,934) | 17,536) | 17,353) | 17,005) | 16,629) | 16,229) | 14,931) | 15,441) | 14,819) | 14,432) | 14,637) | 14,441) | 14,861) | 15,291) | 16,130) | 16,664) | 16,322) | 16,789) | 16,992) | 16,301) | 16,344) | 16,411) | 17,173) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||
| Debt to capital (including operating lease liability)1 | 0.52 | 0.53 | 0.53 | 0.54 | 0.55 | 0.56 | 0.58 | 0.59 | 0.62 | 0.62 | 0.62 | 0.63 | 0.60 | 0.58 | 0.55 | 0.48 | 0.45 | 0.45 | 0.45 | 0.41 | 0.41 | 0.39 | 0.38 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||||||||||||||||||||||||||
| Marathon Petroleum Corp. | 0.52 | 0.53 | 0.52 | 0.50 | 0.51 | 0.52 | 0.54 | 0.51 | 0.50 | 0.51 | 0.61 | 0.60 | 0.60 | 0.59 | 0.59 | 0.48 | 0.48 | 0.48 | 0.48 | — | — | — | — | |||||||
| Occidental Petroleum Corp. | 0.41 | 0.42 | 0.41 | 0.41 | 0.43 | 0.45 | 0.52 | 0.60 | 0.63 | 0.67 | 0.67 | 0.67 | 0.67 | 0.63 | 0.56 | 0.54 | 0.57 | 0.34 | 0.34 | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 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).
1 Q3 2023 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 9,303 ÷ 17,934 = 0.52
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Hess Corp. debt to capital ratio (including operating lease liability) improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
Debt to Assets
Hess Corp., debt to assets calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Current portion of long-term debt | 307) | 8) | 5) | 3) | —) | —) | 22) | 517) | 514) | 511) | 13) | 10) | 8) | 5) | 3) | —) | 15) | 14) | 12) | 67) | 85) | 87) | 196) | |||||||
| Long-term debt, excluding current portion | 8,241) | 8,459) | 8,382) | 8,278) | 8,303) | 8,332) | 7,934) | 7,941) | 7,993) | 7,712) | 8,273) | 8,286) | 8,280) | 8,205) | 8,191) | 7,142) | 6,526) | 6,511) | 6,550) | 6,605) | 6,609) | 6,352) | 6,372) | |||||||
| Long-term finance lease obligations | 163) | 168) | 174) | 179) | 185) | 190) | 195) | 200) | 205) | 210) | 215) | 220) | 224) | 229) | 233) | 238) | 242) | 246) | 250) | —) | —) | —) | —) | |||||||
| Total debt | 8,711) | 8,635) | 8,561) | 8,460) | 8,488) | 8,522) | 8,151) | 8,658) | 8,712) | 8,433) | 8,501) | 8,516) | 8,512) | 8,439) | 8,427) | 7,380) | 6,783) | 6,771) | 6,812) | 6,672) | 6,694) | 6,439) | 6,568) | |||||||
| Total assets | 23,201) | 22,230) | 21,938) | 21,695) | 21,643) | 21,180) | 19,798) | 20,515) | 19,490) | 19,166) | 18,951) | 18,821) | 18,969) | 19,546) | 20,717) | 21,782) | 21,631) | 21,695) | 21,716) | 21,433) | 21,467) | 21,464) | 22,072) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||
| Debt to assets1 | 0.38 | 0.39 | 0.39 | 0.39 | 0.39 | 0.40 | 0.41 | 0.42 | 0.45 | 0.44 | 0.45 | 0.45 | 0.45 | 0.43 | 0.41 | 0.34 | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 | 0.30 | 0.30 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | 0.08 | 0.09 | 0.09 | 0.09 | 0.09 | 0.10 | 0.12 | 0.13 | 0.16 | 0.18 | 0.19 | 0.18 | 0.16 | 0.15 | 0.14 | 0.11 | 0.13 | 0.12 | 0.13 | — | — | — | — | |||||||
| ConocoPhillips | 0.20 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.20 | 0.22 | 0.23 | 0.23 | 0.24 | 0.25 | 0.24 | 0.24 | 0.23 | 0.21 | 0.21 | 0.21 | 0.21 | — | — | — | — | |||||||
| Exxon Mobil Corp. | 0.11 | 0.11 | 0.11 | 0.11 | 0.12 | 0.13 | 0.13 | 0.14 | 0.17 | 0.18 | 0.19 | 0.20 | 0.19 | 0.19 | 0.17 | 0.13 | 0.13 | 0.13 | 0.11 | — | — | — | — | |||||||
| Marathon Petroleum Corp. | 0.30 | 0.32 | 0.31 | 0.30 | 0.30 | 0.28 | 0.29 | 0.30 | 0.31 | 0.30 | 0.37 | 0.37 | 0.38 | 0.38 | 0.37 | 0.29 | 0.29 | 0.29 | 0.29 | — | — | — | — | |||||||
| Occidental Petroleum Corp. | 0.28 | 0.28 | 0.28 | 0.27 | 0.29 | 0.30 | 0.36 | 0.39 | 0.42 | 0.45 | 0.45 | 0.45 | 0.46 | 0.43 | 0.38 | 0.35 | 0.38 | 0.23 | 0.23 | — | — | — | — | |||||||
| Valero Energy Corp. | 0.18 | 0.19 | 0.19 | 0.19 | 0.20 | 0.20 | 0.22 | 0.24 | 0.26 | 0.26 | 0.27 | 0.28 | 0.29 | 0.26 | 0.24 | 0.18 | 0.19 | 0.18 | 0.19 | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 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).
1 Q3 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 8,711 ÷ 23,201 = 0.38
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. | Hess Corp. debt to assets ratio improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
Debt to Assets (including Operating Lease Liability)
Hess Corp., debt to assets (including operating lease liability) calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Current portion of long-term debt | 307) | 8) | 5) | 3) | —) | —) | 22) | 517) | 514) | 511) | 13) | 10) | 8) | 5) | 3) | —) | 15) | 14) | 12) | 67) | 85) | 87) | 196) | |||||||
| Long-term debt, excluding current portion | 8,241) | 8,459) | 8,382) | 8,278) | 8,303) | 8,332) | 7,934) | 7,941) | 7,993) | 7,712) | 8,273) | 8,286) | 8,280) | 8,205) | 8,191) | 7,142) | 6,526) | 6,511) | 6,550) | 6,605) | 6,609) | 6,352) | 6,372) | |||||||
| Long-term finance lease obligations | 163) | 168) | 174) | 179) | 185) | 190) | 195) | 200) | 205) | 210) | 215) | 220) | 224) | 229) | 233) | 238) | 242) | 246) | 250) | —) | —) | —) | —) | |||||||
| Total debt | 8,711) | 8,635) | 8,561) | 8,460) | 8,488) | 8,522) | 8,151) | 8,658) | 8,712) | 8,433) | 8,501) | 8,516) | 8,512) | 8,439) | 8,427) | 7,380) | 6,783) | 6,771) | 6,812) | 6,672) | 6,694) | 6,439) | 6,568) | |||||||
| Current portion of operating and finance lease obligations | 200) | 222) | 237) | 221) | 121) | 114) | 91) | 89) | 88) | 90) | 83) | 81) | 99) | 108) | 146) | 199) | 259) | 329) | 402) | —) | —) | —) | —) | |||||||
| Long-term operating lease obligations | 392) | 407) | 422) | 469) | 461) | 457) | 381) | 394) | 410) | 421) | 437) | 478) | 334) | 349) | 357) | 353) | 372) | 395) | 436) | —) | —) | —) | —) | |||||||
| Total debt (including operating lease liability) | 9,303) | 9,264) | 9,220) | 9,150) | 9,070) | 9,093) | 8,623) | 9,141) | 9,210) | 8,944) | 9,021) | 9,075) | 8,945) | 8,896) | 8,930) | 7,932) | 7,414) | 7,495) | 7,650) | 6,672) | 6,694) | 6,439) | 6,568) | |||||||
| Total assets | 23,201) | 22,230) | 21,938) | 21,695) | 21,643) | 21,180) | 19,798) | 20,515) | 19,490) | 19,166) | 18,951) | 18,821) | 18,969) | 19,546) | 20,717) | 21,782) | 21,631) | 21,695) | 21,716) | 21,433) | 21,467) | 21,464) | 22,072) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||
| Debt to assets (including operating lease liability)1 | 0.40 | 0.42 | 0.42 | 0.42 | 0.42 | 0.43 | 0.44 | 0.45 | 0.47 | 0.47 | 0.48 | 0.48 | 0.47 | 0.46 | 0.43 | 0.36 | 0.34 | 0.35 | 0.35 | 0.31 | 0.31 | 0.30 | 0.30 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||||||||||||||||||||||||||
| Marathon Petroleum Corp. | 0.32 | 0.33 | 0.33 | 0.31 | 0.31 | 0.29 | 0.31 | 0.32 | 0.32 | 0.32 | 0.39 | 0.39 | 0.40 | 0.41 | 0.40 | 0.32 | 0.32 | 0.32 | 0.32 | — | — | — | — | |||||||
| Occidental Petroleum Corp. | 0.29 | 0.29 | 0.29 | 0.29 | 0.30 | 0.31 | 0.37 | 0.40 | 0.43 | 0.46 | 0.47 | 0.47 | 0.47 | 0.44 | 0.39 | 0.37 | 0.39 | 0.24 | 0.25 | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 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).
1 Q3 2023 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 9,303 ÷ 23,201 = 0.40
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Hess Corp. debt to assets ratio (including operating lease liability) improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
Financial Leverage
Hess Corp., financial leverage calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Total assets | 23,201) | 22,230) | 21,938) | 21,695) | 21,643) | 21,180) | 19,798) | 20,515) | 19,490) | 19,166) | 18,951) | 18,821) | 18,969) | 19,546) | 20,717) | 21,782) | 21,631) | 21,695) | 21,716) | 21,433) | 21,467) | 21,464) | 22,072) | |||||||
| Total Hess Corporation stockholders’ equity | 8,631) | 8,272) | 8,133) | 7,855) | 7,559) | 7,136) | 6,308) | 6,300) | 5,609) | 5,488) | 5,616) | 5,366) | 5,916) | 6,395) | 7,200) | 8,732) | 8,908) | 9,294) | 9,342) | 9,629) | 9,650) | 9,972) | 10,605) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||
| Financial leverage1 | 2.69 | 2.69 | 2.70 | 2.76 | 2.86 | 2.97 | 3.14 | 3.26 | 3.47 | 3.49 | 3.37 | 3.51 | 3.21 | 3.06 | 2.88 | 2.49 | 2.43 | 2.33 | 2.32 | 2.23 | 2.22 | 2.15 | 2.08 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | 1.60 | 1.59 | 1.60 | 1.62 | 1.64 | 1.68 | 1.70 | 1.72 | 1.77 | 1.82 | 1.83 | 1.82 | 1.69 | 1.67 | 1.64 | 1.65 | 1.65 | 1.64 | 1.66 | — | — | — | — | |||||||
| ConocoPhillips | 1.96 | 1.89 | 1.91 | 1.95 | 1.93 | 1.87 | 1.90 | 2.00 | 1.98 | 1.93 | 1.94 | 2.10 | 2.05 | 2.00 | 2.08 | 2.02 | 2.00 | 2.16 | 2.18 | — | — | — | — | |||||||
| Exxon Mobil Corp. | 1.86 | 1.82 | 1.86 | 1.89 | 1.99 | 2.07 | 2.10 | 2.01 | 2.10 | 2.13 | 2.13 | 2.12 | 2.02 | 2.01 | 1.95 | 1.89 | 1.89 | 1.88 | 1.86 | — | — | — | — | |||||||
| Marathon Petroleum Corp. | 3.48 | 3.36 | 3.24 | 3.24 | 3.41 | 3.68 | 3.79 | 3.26 | 3.16 | 3.26 | 4.01 | 3.84 | 3.74 | 3.56 | 3.58 | 2.93 | 2.91 | 2.83 | 2.84 | — | — | — | — | |||||||
| Occidental Petroleum Corp. | 2.45 | 2.45 | 2.42 | 2.41 | 2.51 | 2.67 | 2.98 | 3.69 | 4.01 | 4.38 | 4.34 | 4.31 | 4.25 | 3.83 | 3.25 | 3.19 | 3.48 | 2.10 | 2.09 | — | — | — | — | |||||||
| Valero Energy Corp. | 2.43 | 2.35 | 2.41 | 2.59 | 2.71 | 3.07 | 3.21 | 3.14 | 3.13 | 3.14 | 3.01 | 2.75 | 2.69 | 2.47 | 2.53 | 2.47 | 2.43 | 2.44 | 2.44 | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 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).
1 Q3 2023 Calculation
Financial leverage = Total assets ÷ Total Hess Corporation stockholders’ equity
= 23,201 ÷ 8,631 = 2.69
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. | Hess Corp. financial leverage ratio decreased from Q1 2023 to Q2 2023 but then slightly increased from Q2 2023 to Q3 2023. |
Interest Coverage
Hess Corp., interest coverage calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Net income (loss) attributable to Hess Corporation | 504) | 119) | 346) | 497) | 515) | 667) | 417) | 265) | 115) | (73) | 252) | (97) | (243) | (320) | (2,433) | (222) | (212) | (6) | 32) | (4) | (42) | (130) | (106) | |||||||
| Add: Net income attributable to noncontrolling interest | 98) | 86) | 82) | 85) | 91) | 87) | 88) | 91) | 70) | 86) | 84) | 70) | 60) | 57) | 67) | 39) | 46) | 40) | 43) | 38) | 45) | 43) | 41) | |||||||
| Add: Income tax expense | 215) | 160) | 176) | 292) | 282) | 328) | 197) | 212) | 143) | 122) | 123) | 72) | 5) | (9) | (79) | 119) | 116) | 132) | 94) | 27) | 121) | 114) | 73) | |||||||
| Add: Interest expense | 117) | 122) | 123) | 124) | 125) | 121) | 123) | 121) | 125) | 118) | 117) | 118) | 118) | 119) | 113) | 95) | 90) | 97) | 98) | 99) | 99) | 98) | 103) | |||||||
| Earnings before interest and tax (EBIT) | 934) | 487) | 727) | 998) | 1,013) | 1,203) | 825) | 689) | 453) | 253) | 576) | 163) | (60) | (153) | (2,332) | 31) | 40) | 263) | 267) | 160) | 223) | 125) | 111) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||
| Interest coverage1 | 6.47 | 6.53 | 7.99 | 8.19 | 7.61 | 6.47 | 4.56 | 4.10 | 3.02 | 1.98 | 1.11 | -5.09 | -5.65 | -5.79 | -5.06 | 1.58 | 1.90 | 2.32 | 1.97 | 1.55 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Interest Coverage, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | 77.06 | 87.36 | 102.29 | 97.27 | 86.49 | 68.50 | 44.87 | 31.39 | 19.12 | 8.50 | -11.85 | -9.69 | -21.04 | -14.24 | 8.79 | 7.94 | — | — | — | — | — | — | — | |||||||
| ConocoPhillips | 24.35 | 28.69 | 33.08 | 36.07 | 33.30 | 28.10 | 22.60 | 15.38 | 9.41 | 4.77 | 1.17 | -2.90 | 0.04 | 5.13 | 8.06 | 13.24 | — | — | — | — | — | — | — | |||||||
| Exxon Mobil Corp. | 74.98 | 85.62 | 108.93 | 94.68 | 88.00 | 68.10 | 42.27 | 33.98 | -5.84 | -14.48 | -20.45 | -23.94 | 4.96 | 10.25 | 18.27 | 25.16 | — | — | — | — | — | — | — | |||||||
| Occidental Petroleum Corp. | 8.59 | 9.99 | 15.23 | 14.71 | 12.90 | 9.58 | 5.07 | 3.30 | 1.15 | -2.26 | -8.10 | -10.03 | -9.54 | -7.01 | -1.05 | 1.17 | — | — | — | — | — | — | — | |||||||
| Valero Energy Corp. | 25.95 | 26.87 | 33.17 | 28.24 | 22.38 | 16.53 | 6.90 | 3.56 | 0.45 | -1.73 | 0.30 | -2.57 | 1.46 | 4.55 | 2.92 | 8.68 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 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).
1 Q3 2023 Calculation
Interest coverage
= (EBITQ3 2023
+ EBITQ2 2023
+ EBITQ1 2023
+ EBITQ4 2022)
÷ (Interest expenseQ3 2023
+ Interest expenseQ2 2023
+ Interest expenseQ1 2023
+ Interest expenseQ4 2022)
= (934 + 487 + 727 + 998)
÷ (117 + 122 + 123 + 124)
= 6.47
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. | Hess Corp. interest coverage ratio deteriorated from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |