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.