Name: Equity Multiplier

Definition: The equity multiplier shows how much total assets the company controls for every dollar invested by shareholders. It reflects how much debt is being used to stretch owners’ equity. A higher multiplier means greater use of debt to amplify returns — but also amplifies risk if things go wrong. Lower multipliers suggest a safer, more self-funded business.

Interpretation:
• In '2021', PBT's equity multiplier was 7.38, representing the level of financial leverage utilized. Industry average for Oil & Gas Production in '2021' stood at 2.26.
• In '2022', PBT's equity multiplier was 11.22, representing the level of financial leverage utilized. The increase compared to '2021' may signal growing financial pressure. Industry average for Oil & Gas Production in '2022' stood at 2.32. Industry average increased by 0.06 compared to previous year.
• In '2023', PBT's equity multiplier was 28.32, representing the level of financial leverage utilized. The increase compared to '2022' may signal growing financial pressure. Industry average for Oil & Gas Production in '2023' stood at 1.96. Industry average declined by 0.36 from previous year.
• In '2024', PBT's equity multiplier was 13.91, representing the level of financial leverage utilized. The decrease since '2023' reflects improving financial health. Industry average for Oil & Gas Production in '2024' stood at 1.86. Industry average declined by 0.10 from previous year.
Overall, PBT's equity multiplier has been volatile but showed an upward trend over the past 4 years.

Formula: Equity Multiplier = Total Assets / Shareholders' Equity

Good Range: Usually ranges from 1.5 to 3 depending on industry.