Apple Inc (AAPL)

Debt-to-capital ratio

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	85,750,000	86,196,000	91,831,000	95,088,000	95,281,000	98,071,000	97,041,000	99,627,000	98,959,000	94,700,000	103,323,000	106,629,000	109,106,000	105,752,000	108,642,000	99,281,000	98,667,000	94,048,000	89,086,000	93,078,000
Total stockholders’ equity	US$ in thousands	56,950,000	66,708,000	74,194,000	74,100,000	62,146,000	60,274,000	62,158,000	56,727,000	50,672,000	58,107,000	67,399,000	71,932,000	63,090,000	64,280,000	69,178,000	66,224,000	65,339,000	72,282,000	78,425,000	89,531,000
Debt-to-capital ratio		0.60	0.56	0.55	0.56	0.61	0.62	0.61	0.64	0.66	0.62	0.61	0.60	0.63	0.62	0.61	0.60	0.60	0.57	0.53	0.51

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 few quarters, ranging from 0.51 to 0.66. A higher debt-to-capital ratio indicates a higher proportion of debt in the company's capital structure compared to equity.

Based on the data provided, the ratio peaked at 0.66 in the third quarter of 2022 before decreasing to 0.56 in the second quarter of 2023. Since then, it has generally hovered around the range of 0.55 to 0.62, suggesting a relatively stable level of debt relative to the overall capital employed by Apple Inc.

Overall, the trend in the debt-to-capital ratio indicates that Apple Inc has been managing its debt levels effectively and maintaining a balanced capital structure over the analyzed period.