Artivion Inc (AORT)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	305,531	306,499	307,493	290,468	214,571
Total stockholders’ equity	US$ in thousands	281,780	284,329	300,728	328,713	285,696
Debt-to-capital ratio		0.52	0.52	0.51	0.47	0.43

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $305,531K ÷ ($305,531K + $281,780K)
= 0.52

The debt-to-capital ratio of Artivion Inc has shown a steady increasing trend over the past five years, rising from 0.44 in 2019 to 0.52 in 2023. This indicates that the company's reliance on debt as a source of financing relative to its total capital has been on the rise. The consistent increase in the debt-to-capital ratio may suggest that Artivion Inc has been relying more heavily on debt to fund its operations or expansions. It is important for investors and stakeholders to closely monitor this trend as a higher debt-to-capital ratio can increase financial risk and impact the company's ability to meet its financial obligations in the long term.