Adapthealth Corp (AHCO)
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 | 2,094,610 | 2,126,800 | 2,135,620 | 2,169,440 | 2,153,270 | 2,162,090 | 2,170,910 | 2,179,730 | 2,183,550 | 2,187,370 | 1,776,330 | 1,748,830 | 776,568 | 722,730 | 443,248 | 463,553 | 395,112 | — | — | — |
| Total stockholders’ equity | US$ in thousands | 1,458,450 | 1,732,480 | 2,180,940 | 2,159,890 | 2,151,160 | 2,154,370 | 2,133,220 | 2,115,360 | 2,061,910 | 1,990,110 | 1,889,960 | 1,788,280 | 354,889 | 360,999 | 8,491 | -33,173 | -14,520 | 5,000 | 5,000 | 5,000 |
| Debt-to-equity ratio | 1.44 | 1.23 | 0.98 | 1.00 | 1.00 | 1.00 | 1.02 | 1.03 | 1.06 | 1.10 | 0.94 | 0.98 | 2.19 | 2.00 | 52.20 | — | — | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $2,094,610K ÷ $1,458,450K
= 1.44
AdaptHealth Corp's debt-to-equity ratio has shown fluctuations over the past eight quarters. In Q4 2023, the ratio stood at 1.49, which indicates that the company had higher levels of debt relative to equity. This was an increase from the previous quarter's ratio of 1.26. Prior to that, in Q2 2023, the ratio was at its lowest point of 1.00, suggesting a more balanced capital structure.
Comparing the recent ratios to those of the same quarter in the previous year, there has been a general upward trend in the debt-to-equity ratio. This could imply that AdaptHealth Corp has been relying more on debt financing compared to equity financing over time.
Overall, a debt-to-equity ratio above 1 indicates that the company is more leveraged, relying more on debt to finance its operations than equity. Investors and creditors typically look at this ratio to assess a company's financial risk, so monitoring changes in this ratio can provide insights into AdaptHealth Corp's financial health and risk profile.
Peer comparison
Dec 31, 2023