Murphy USA annual debt-to-equity ratio
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2025
Murphy USA Debt-to-Equity Ratio Growth & History (MUSA)
Murphy USA's debt-to-equity ratio was 4.40 for fiscal 2025.
View full Murphy USA company overviewMurphy USA annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 4.40 | 1.58 | +56.05% |
| 2024 | 2024-12-31 | 2.82 | 0.08 | +2.85% |
| 2023 | 2023-12-31 | 2.74 | −0.80 | −22.69% |
| 2022 | 2022-12-31 | 3.55 | 0.77 | +27.64% |
| 2021 | 2021-12-31 | 2.78 | 1.31 | +88.94% |
| 2020 | 2020-12-31 | 1.47 | 0.02 | +1.47% |
| 2019 | 2019-12-31 | 1.45 | 0.38 | +35.48% |
| 2018 | 2018-12-31 | 1.07 | −0.12 | −10.35% |
| 2017 | 2017-12-31 | 1.19 | 0.23 | +24.05% |
| 2016 | 2016-12-31 | 0.96 | 0.34 | +55.34% |
| 2015 | 2015-12-31 | 0.62 | 0.05 | +8.87% |
| 2014 | 2014-12-31 | 0.57 | −0.29 | −33.55% |
| 2013 | 2013-12-31 | 0.86 | 0.85 | +80668.95% |
| 2012 | 2012-12-31 | 0.00 | — | — |
Murphy USA quarterly debt-to-equity ratio
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| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 3.53 | −0.52 | −12.79% |
| Q1 2026 | 2026-03-31 | 4.12 | 0.64 | +18.26% |
| Q4 2025 | 2025-12-31 | 4.40 | 1.58 | +56.05% |
| Q3 2025 | 2025-09-30 | 5.09 | 2.26 | +80.13% |
| Q2 2025 | 2025-06-30 | 4.05 | 1.23 | +43.78% |
| Q1 2025 | 2025-03-31 | 3.49 | 0.58 | +19.89% |
| Q4 2024 | 2024-12-31 | 2.82 | 0.08 | +2.85% |
| Q3 2024 | 2024-09-30 | 2.83 | 0.13 | +4.94% |
| Q2 2024 | 2024-06-30 | 2.81 | −0.21 | −6.84% |
| Q1 2024 | 2024-03-31 | 2.91 | −0.25 | −7.95% |
| Q4 2023 | 2023-12-31 | 2.74 | −0.80 | −22.69% |
| Q3 2023 | 2023-09-30 | 2.69 | −0.28 | −9.35% |
| Q2 2023 | 2023-06-30 | 3.02 | 0.05 | +1.76% |
| Q1 2023 | 2023-03-31 | 3.16 | 0.33 | +11.50% |
| Q4 2022 | 2022-12-31 | 3.55 | 0.77 | +27.64% |
| Q3 2022 | 2022-09-30 | 2.97 | 0.26 | +9.71% |
| Q2 2022 | 2022-06-30 | 2.97 | 0.05 | +1.85% |
| Q1 2022 | 2022-03-31 | 2.83 | 0.00 | +0.09% |
| Q4 2021 | 2021-12-31 | 2.78 | 1.31 | +88.94% |
| Q3 2021 | 2021-09-30 | 2.71 | 1.41 | +108.56% |
| Q2 2021 | 2021-06-30 | 2.92 | 1.64 | +128.67% |
| Q1 2021 | 2021-03-31 | 2.83 | 1.27 | +80.84% |
| Q4 2020 | 2020-12-31 | 1.47 | 0.02 | +1.47% |
| Q3 2020 | 2020-09-30 | 1.30 | −0.12 | −8.62% |
| Q2 2020 | 2020-06-30 | 1.27 | 0.09 | +7.63% |
| Q1 2020 | 2020-03-31 | 1.57 | 0.35 | +28.72% |
| Q4 2019 | 2019-12-31 | 1.45 | 0.38 | +35.48% |
| Q3 2019 | 2019-09-30 | 1.42 | 0.23 | +19.33% |
| Q2 2019 | 2019-06-30 | 1.18 | −0.09 | −6.76% |
| Q1 2019 | 2019-03-31 | 1.22 | −0.03 | −2.14% |
| Q4 2018 | 2018-12-31 | 1.07 | −0.12 | −10.35% |
| Q3 2018 | 2018-09-30 | 1.19 | −0.14 | −10.50% |
| Q2 2018 | 2018-06-30 | 1.27 | −0.03 | −2.19% |
| Q1 2018 | 2018-03-31 | 1.24 | 0.22 | +21.62% |
| Q4 2017 | 2017-12-31 | 1.19 | 0.23 | +24.05% |
| Q3 2017 | 2017-09-30 | 1.33 | 0.44 | +48.64% |
| Q2 2017 | 2017-06-30 | 1.30 | 0.40 | +45.06% |
| Q1 2017 | 2017-03-31 | 1.02 | 0.07 | +7.73% |
| Q4 2016 | 2016-12-31 | 0.96 | 0.34 | +55.34% |
| Q3 2016 | 2016-09-30 | 0.89 | 0.22 | +32.14% |
| Q2 2016 | 2016-06-30 | 0.90 | 0.22 | +31.61% |
| Q1 2016 | 2016-03-31 | 0.95 | 0.37 | +63.18% |
| Q4 2015 | 2015-12-31 | 0.62 | 0.05 | +8.87% |
| Q3 2015 | 2015-09-30 | 0.68 | 0.03 | +4.36% |
| Q2 2015 | 2015-06-30 | 0.68 | −0.03 | −4.10% |
| Q1 2015 | 2015-03-31 | 0.58 | −0.24 | −28.99% |
| Q4 2014 | 2014-12-31 | 0.57 | −0.29 | −33.55% |
| Q3 2014 | 2014-09-30 | 0.65 | −0.49 | −43.09% |
| Q2 2014 | 2014-06-30 | 0.71 | — | — |
| Q1 2014 | 2014-03-31 | 0.82 | — | — |
| Q4 2013 | 2013-12-31 | 0.86 | 0.85 | +80668.95% |
| Q3 2013 | 2013-09-30 | 1.14 | — | — |
| Q4 2012 | 2012-12-31 | 0.00 | — | — |
Murphy USA debt-to-equity ratio trends
Over the last five fiscal years, Murphy USA's debt-to-equity ratio increased from 1.47 to 4.40, a change of 2.93. The latest reported quarter, Q2 2026, shows 3.53.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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