Air Products and Chemicals Inc (APD)

Debt-to-capital ratio

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	17,036,500	15,101,300	14,913,400	14,873,000	14,312,900	14,138,000	14,058,300	13,935,700	13,144,000	13,643,900	13,955,100	13,825,100	13,539,700	13,082,900	12,726,200	12,683,600	12,079,800	11,659,300	11,371,900	11,556,000
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

September 30, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $17,036,500K)
= 0.00

The debt-to-capital ratio of Air Products and Chemicals Inc has been consistently reported as 0.00 for the past few quarters. This indicates that the company has not utilized any debt in its capital structure, relying solely on equity financing. A debt-to-capital ratio of 0.00 signifies that the company's total debt is zero relative to its total capital (the sum of debt and equity).

Having a debt-to-capital ratio of 0.00 can suggest financial stability and strong financial health, as it implies a lower risk of default on debt obligations. However, it is important to note that an excessively low debt-to-capital ratio could also mean missed opportunities for leveraging debt to enhance returns, especially in environments with low interest rates.

Overall, the consistent zero value of the debt-to-capital ratio for Air Products and Chemicals Inc indicates a conservative financial strategy with minimal reliance on debt financing.