Name: Debt to Equity

Definition: Debt to equity shows how much debt the company uses compared to the amount invested by its owners. It’s a bit like comparing your mortgage to your house down payment. Higher ratios suggest the business is comfortable borrowing to grow — which can boost returns in good times, but adds risk if conditions worsen. Lower ratios signal a more conservative, steady approach.

Interpretation:
• In '2022', UFG's debt to equity was 0.00, showing the balance between debt financing and shareholders' equity. Industry average for Oil Refining/Marketing in '2022' stood at 1.04.
• In '2023', UFG's debt to equity was 0.32, showing the balance between debt financing and shareholders' equity. The increase compared to '2022' may signal growing financial pressure. Industry average for Oil Refining/Marketing in '2023' stood at 0.98. Industry average declined by 0.06 from previous year.
• In '2024', UFG's debt to equity was 0.36, showing the balance between debt financing and shareholders' equity. The increase compared to '2023' may signal growing financial pressure. Industry average for Oil Refining/Marketing in '2024' stood at 0.98. Industry average declined by 0.00 from previous year.
Overall, UFG's debt to equity has been volatile but showed an upward trend over the past 3 years.

Formula: Debt to Equity = Total Debt / Shareholders' Equity

Good Range: Below 1.0 is conservative; 1-2 is common depending on industry.