Acadia Healthcare Company Inc (ACHC)

Debt-to-capital ratio

		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	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	1,342,550	1,349,950	1,372,360	1,399,780	1,364,540	1,379,310	1,384,070	1,463,850	1,478,630	1,413,410	1,443,190	1,484,210	2,968,950	3,067,240	3,078,440	2,944,820	3,105,420	3,133,640	3,206,870	3,221,710
Total stockholders’ equity	US$ in thousands	2,781,970	2,712,560	2,921,020	2,839,600	2,812,730	2,743,710	2,663,040	2,574,510	2,517,490	2,434,450	2,356,590	2,298,000	1,899,460	2,606,640	2,503,340	2,464,170	2,505,380	2,420,690	2,422,350	2,403,340
Debt-to-capital ratio		0.33	0.33	0.32	0.33	0.33	0.33	0.34	0.36	0.37	0.37	0.38	0.39	0.61	0.54	0.55	0.54	0.55	0.56	0.57	0.57

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,342,550K ÷ ($1,342,550K + $2,781,970K)
= 0.33

The debt-to-capital ratio of Acadia Healthcare Company Inc has been relatively stable in recent quarters, hovering between 0.32 and 0.37. This ratio provides insights into the company's capital structure and its reliance on debt financing.

The gradual decrease from 0.37 in Q1 2022 to 0.32 in Q2 2023 suggests that the company has been managing its debt levels effectively compared to its capital base. This may indicate improved financial health and lower financial risk over time.

Overall, the consistent range of the debt-to-capital ratio around 0.33-0.34 indicates that Acadia Healthcare Company Inc has maintained a balanced mix of debt and equity in its capital structure, which is usually considered a healthy sign for investors and creditors.

Peer comparison

Dec 31, 2023

Company name

Symbol

Debt-to-capital ratio

Acadia Healthcare Company Inc

ACHC

0.33

Concentra Group Holdings Parent, Inc.

CON

0.00