CNOOC (BUE:CEO) Debt-to-Equity : 0.18 (As of Dec. 2023)

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What is CNOOC Debt-to-Equity?

CNOOC's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was ARS1,219,023 Mil. CNOOC's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was ARS4,856,982 Mil. CNOOC's Total Stockholders Equity for the quarter that ended in Dec. 2023 was ARS33,701,794 Mil. CNOOC's debt to equity for the quarter that ended in Dec. 2023 was 0.18.

A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.

The historical rank and industry rank for CNOOC's Debt-to-Equity or its related term are showing as below:

BUE:CEO' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.18 Med: 0.34 Max: 0.43
Current: 0.18

During the past 13 years, the highest Debt-to-Equity Ratio of CNOOC was 0.43. The lowest was 0.18. And the median was 0.34.

BUE:CEO's Debt-to-Equity is ranked better than
73.49% of 830 companies
in the Oil & Gas industry
Industry Median: 0.435 vs BUE:CEO: 0.18

CNOOC Debt-to-Equity Historical Data

The historical data trend for CNOOC's Debt-to-Equity can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

CNOOC Debt-to-Equity Chart

CNOOC Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Debt-to-Equity

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0.35

0.33

0.28

0.23

0.18

CNOOC Quarterly Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Mar21	Jun21	Dec21	Mar22	Jun22	Sep22	Dec22	Jun23	Sep23	Dec23
Debt-to-Equity	Get a 7-Day Free Trial															N/A	0.23	0.19	0.19	0.18

Competitive Comparison of CNOOC's Debt-to-Equity

For the Oil & Gas E&P subindustry, CNOOC's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

CNOOC's Debt-to-Equity Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, CNOOC's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where CNOOC's Debt-to-Equity falls into.

CNOOC Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

CNOOC's Debt to Equity Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(1219023.417	+	4856982.437)	/	33701793.507
	=	0.18

CNOOC's Debt to Equity Ratio for the quarter that ended in Dec. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(1219023.417	+	4856982.437)	/	33701793.507
	=	0.18

CNOOC (BUE:CEO) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.

Be Aware

Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.

CNOOC Debt-to-Equity Related Terms

Thank you for viewing the detailed overview of CNOOC's Debt-to-Equity provided by GuruFocus.com. Please click on the following links to see related term pages.

CNOOC (BUE:CEO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » CNOOC Ltd (BUE:CEO) » Definitions » Debt-to-Equity

Comparable Companies

Traded in Other Exchanges

00883:Hong Kong NC2B:Germany 600938:China

Address

1 Garden Road, 65th Floor, Bank of China Tower, Hong Kong, HKG, 999077

Website

https://www.cnoocltd.com

CNOOC is China's main offshore oil and gas exploration and production company. Through its parent company, it has exclusive rights to partner with foreign companies in offshore China projects. Production for 2022 averaged 1.71 million barrels of oil equivalent per day (78.5% oil), and year-end proven reserves were 6.24 billion barrels of oil equivalent, or boe, (73.8% oil). Assets outside China make up around 30.6% of production.