Acadia Healthcare Company Inc (ACHC)

Debt-to-equity 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-equity ratio		0.48	0.50	0.47	0.49	0.49	0.50	0.52	0.57	0.59	0.58	0.61	0.65	1.56	1.18	1.23	1.20	1.24	1.29	1.32	1.34

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,342,550K ÷ $2,781,970K
= 0.48

The debt-to-equity ratio of Acadia Healthcare Company Inc has shown a fluctuating trend over the past eight quarters. The ratio ranged from 0.48 to 0.58 during this period. Generally, a lower debt-to-equity ratio indicates that a company is using less debt financing relative to its equity, which may be considered less risky.

In Acadia Healthcare's case, the ratio has mostly been below 0.55, suggesting that the company has been able to manage its debt levels effectively in relation to its equity. However, there was a slight increase in the ratio from Q1 2022 to Q2 2022, reaching 0.58, which could indicate a higher proportion of debt in the capital structure at that time.

Overall, Acadia Healthcare's debt-to-equity ratio indicates a moderate level of debt compared to equity in its capital structure. It is important to monitor this ratio in conjunction with other financial metrics to assess the company's overall financial health and risk profile accurately.