Aptiv PLC (APTV)

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	6,204,000	6,460,000	4,059,000	4,011,000	3,971,000
Total stockholders’ equity	US$ in thousands	11,548,000	8,809,000	8,347,000	7,905,000	3,819,000
Debt-to-capital ratio		0.35	0.42	0.33	0.34	0.51

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $6,204,000K ÷ ($6,204,000K + $11,548,000K)
= 0.35

The debt-to-capital ratio of Aptiv PLC has shown some fluctuation over the past five years. The ratio decreased from 0.53 in 2019 to 0.33 in 2021, indicating a stronger capital structure with less reliance on debt. However, in 2022, the ratio increased to 0.42 before dropping slightly to 0.35 in 2023.

Overall, the trend suggests that Aptiv PLC has been managing its debt levels relative to its capital base, with a focus on maintaining a reasonable balance between debt and equity financing. The company's ability to keep the ratio within a relatively stable range indicates a cautious approach to leverage, which can help mitigate financial risks and maintain financial stability.

Further analysis of the company's debt levels, capital structure, and overall financial health would be necessary to provide a more in-depth assessment of Aptiv PLC's ability to meet its financial obligations and fund its operations effectively.