Apple Inc (AAPL)

Debt-to-capital ratio

		Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020
Long-term debt	US$ in thousands	85,750,000	95,281,000	98,959,000	109,106,000	98,667,000
Total stockholders’ equity	US$ in thousands	56,950,000	62,146,000	50,672,000	63,090,000	65,339,000
Debt-to-capital ratio		0.60	0.61	0.66	0.63	0.60

September 30, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $85,750,000K ÷ ($85,750,000K + $56,950,000K)
= 0.60

The debt-to-capital ratio of Apple Inc has shown some fluctuation over the past five years. The ratio decreased from 0.66 in 2022 to 0.63 in 2021 before slightly increasing to 0.61 in 2023. However, in the most recent period of Sep 30, 2024, the ratio rose to 0.60, which is consistent with the ratio reported in Sep 30, 2020.

A debt-to-capital ratio of 0.60 signifies that 60% of Apple's capital structure is funded by debt, with the remaining 40% funded by equity. This ratio indicates that Apple relies moderately on debt to finance its operations and growth initiatives. It is important to note that this level of debt may be considered manageable for the company, as it has remained relatively stable over the years.

Overall, the debt-to-capital ratio provides insight into Apple's financial leverage and risk exposure. Further analysis of the company's debt maturity profile, interest coverage ratio, and profitability metrics would provide a more comprehensive understanding of its financial health and ability to meet its debt obligations.