Adapthealth Corp (AHCO)
Debt-to-equity ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 2,094,610 | 2,153,270 | 2,183,550 | 776,568 | 395,112 |
| Total stockholders’ equity | US$ in thousands | 1,458,450 | 2,151,160 | 2,061,910 | 354,889 | -14,520 |
| Debt-to-equity ratio | 1.44 | 1.00 | 1.06 | 2.19 | — |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $2,094,610K ÷ $1,458,450K
= 1.44
The debt-to-equity ratio of AdaptHealth Corp has fluctuated over the past five years. As of December 31, 2023, the ratio stands at 1.49, indicating that the company had $1.49 in debt for every $1 of equity. This represents an increase from the previous year, where the ratio was 1.02. The upward trend in the ratio from 2021 (1.08) to 2023 suggests a higher reliance on debt financing relative to equity.
In 2020, however, the debt-to-equity ratio spiked significantly to 2.27, signaling a higher level of debt compared to equity, which might have raised concerns about the company's financial leverage and solvency. Unfortunately, data for 2019 is not available for comparative analysis.
Overall, the varying levels of the debt-to-equity ratio in recent years indicate fluctuations in AdaptHealth Corp's capital structure and financial leverage, highlighting the importance of monitoring these trends for a comprehensive assessment of the company's financial health and risk profile.
Peer comparison
Dec 31, 2023