National Rural Utilities Cooperative Finance annual debt-to-equity ratio
2011
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2026
National Rural Utilities Cooperative Finance Debt-to-Equity Ratio Growth & History (NRUC)
National Rural Utilities Cooperative Finance's debt-to-equity ratio was 10.18 for fiscal 2026.
View full National Rural Utilities Cooperative Finance company overviewNational Rural Utilities Cooperative Finance annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2026 | 2026-05-31 | 10.18 | −0.28 | −2.69% |
| 2025 | 2025-05-31 | 10.47 | 0.36 | +3.55% |
| 2024 | 2024-05-31 | 10.11 | −1.01 | −9.12% |
| 2023 | 2023-05-31 | 11.12 | −1.42 | −11.35% |
| 2022 | 2022-05-31 | 12.54 | −5.77 | −31.51% |
| 2021 | 2021-05-31 | 18.32 | −19.49 | −51.56% |
| 2020 | 2020-05-31 | 37.81 | 19.94 | +111.56% |
| 2019 | 2019-05-31 | 17.87 | 2.60 | +17.06% |
| 2018 | 2018-05-31 | 15.27 | −4.64 | −23.30% |
| 2017 | 2017-05-31 | 19.91 | −5.89 | −22.83% |
| 2016 | 2016-05-31 | 25.80 | 3.89 | +17.76% |
| 2015 | 2015-05-31 | 21.91 | 2.18 | +11.05% |
| 2014 | 2014-05-31 | 19.73 | −3.31 | −14.36% |
| 2013 | 2013-05-31 | 23.04 | −11.42 | −33.14% |
| 2012 | 2012-05-31 | 34.45 | 9.08 | +35.81% |
| 2011 | 2011-05-31 | 25.37 | — | — |
National Rural Utilities Cooperative Finance quarterly debt-to-equity ratio
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| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q4 2026 | 2026-05-31 | 10.18 | −0.28 | −2.69% |
| Q3 2026 | 2026-02-28 | 11.06 | 0.50 | +4.78% |
| Q2 2026 | 2025-11-30 | 10.86 | 0.19 | +1.75% |
| Q1 2026 | 2025-08-31 | 10.80 | −0.23 | −2.10% |
| Q4 2025 | 2025-05-31 | 10.47 | 0.36 | +3.55% |
| Q3 2025 | 2025-02-28 | 10.56 | 0.00 | +0.04% |
| Q2 2025 | 2024-11-30 | 10.67 | 0.28 | +2.65% |
| Q1 2025 | 2024-08-31 | 11.03 | 0.36 | +3.40% |
| Q4 2024 | 2024-05-31 | 10.11 | −1.01 | −9.12% |
| Q3 2024 | 2024-02-29 | 10.55 | −0.60 | −5.40% |
| Q2 2024 | 2023-11-30 | 10.40 | −1.29 | −11.05% |
| Q1 2024 | 2023-08-31 | 10.67 | −1.57 | −12.82% |
| Q4 2023 | 2023-05-31 | 11.12 | −1.42 | −11.35% |
| Q3 2023 | 2023-02-28 | 11.15 | −4.80 | −30.07% |
| Q2 2023 | 2022-11-30 | 11.69 | −7.01 | −37.50% |
| Q1 2023 | 2022-08-31 | 12.24 | −8.56 | −41.16% |
| Q4 2022 | 2022-05-31 | 12.54 | −5.77 | −31.51% |
| Q3 2022 | 2022-02-28 | 15.95 | −4.11 | −20.50% |
| Q2 2022 | 2021-11-30 | 18.70 | −8.72 | −31.80% |
| Q1 2022 | 2021-08-31 | 20.80 | −12.79 | −38.06% |
| Q4 2021 | 2021-05-31 | 18.32 | −19.49 | −51.56% |
| Q3 2021 | 2021-02-28 | 20.07 | −7.32 | −26.73% |
| Q2 2021 | 2020-11-30 | 27.43 | 6.92 | +33.75% |
| Q1 2021 | 2020-08-31 | 33.59 | 7.65 | +29.47% |
| Q4 2020 | 2020-05-31 | 37.81 | 19.94 | +111.56% |
| Q3 2020 | 2020-02-29 | 27.38 | 12.15 | +79.70% |
| Q2 2020 | 2019-11-30 | 20.50 | 6.35 | +44.82% |
| Q1 2020 | 2019-08-31 | 25.94 | 10.71 | +70.26% |
| Q4 2019 | 2019-05-31 | 17.87 | 2.60 | +17.06% |
| Q3 2019 | 2019-02-28 | 15.24 | −0.39 | −2.51% |
| Q2 2019 | 2018-11-30 | 14.16 | −3.98 | −21.95% |
| Q1 2019 | 2018-08-31 | 15.24 | −5.59 | −26.85% |
| Q4 2018 | 2018-05-31 | 15.27 | −4.64 | −23.30% |
| Q3 2018 | 2018-02-28 | 15.63 | −3.72 | −19.22% |
| Q2 2018 | 2017-11-30 | 18.14 | −2.77 | −13.26% |
| Q1 2018 | 2017-08-31 | 20.83 | −12.22 | −36.98% |
| Q4 2017 | 2017-05-31 | 19.91 | −5.89 | −22.83% |
| Q3 2017 | 2017-02-28 | 19.35 | −10.82 | −35.87% |
| Q2 2017 | 2016-11-30 | 20.92 | −2.64 | −11.21% |
| Q1 2017 | 2016-08-31 | 33.05 | 10.60 | +47.23% |
| Q4 2016 | 2016-05-31 | 25.80 | 3.89 | +17.76% |
| Q3 2016 | 2016-02-29 | 30.17 | 7.93 | +35.64% |
| Q2 2016 | 2015-11-30 | 23.55 | 2.17 | +10.14% |
| Q1 2016 | 2015-08-31 | 22.45 | 2.42 | +12.09% |
| Q4 2015 | 2015-05-31 | 21.91 | 2.18 | +11.05% |
| Q3 2015 | 2015-02-28 | 22.25 | 2.06 | +10.22% |
| Q2 2015 | 2014-11-30 | 21.39 | 1.27 | +6.29% |
| Q1 2015 | 2014-08-31 | 20.03 | −0.40 | −1.95% |
| Q4 2014 | 2014-05-31 | 19.73 | −3.31 | −14.36% |
| Q3 2014 | 2014-02-28 | 20.18 | −9.59 | −32.21% |
| Q2 2014 | 2013-11-30 | 20.12 | −13.06 | −39.37% |
| Q1 2014 | 2013-08-31 | 20.43 | −17.47 | −46.10% |
| Q4 2013 | 2013-05-31 | 23.04 | −11.42 | −33.14% |
| Q3 2013 | 2013-02-28 | 29.78 | −6.72 | −18.42% |
| Q2 2013 | 2012-11-30 | 33.19 | 1.40 | +4.42% |
| Q1 2013 | 2012-08-31 | 37.90 | 7.41 | +24.30% |
| Q4 2012 | 2012-05-31 | 34.45 | 9.08 | +35.81% |
| Q3 2012 | 2012-02-29 | 36.50 | — | — |
| Q2 2012 | 2011-11-30 | 31.78 | — | — |
| Q1 2012 | 2011-08-31 | 30.49 | — | — |
| Q4 2011 | 2011-05-31 | 25.37 | — | — |
National Rural Utilities Cooperative Finance debt-to-equity ratio trends
Over the last five fiscal years, National Rural Utilities Cooperative Finance's debt-to-equity ratio decreased from 18.32 to 10.18, a change of −8.13. The latest reported quarter, Q4 2026, shows 10.18.
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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