Allegheny Technologies Incorporated (ATI)
Debt-to-capital 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 1,373,000 | 1,238,900 | 1,194,000 | 1,096,500 | 1,045,900 | 813,500 | 762,900 | 658,700 | 685,600 | 541,400 | 473,000 | 482,900 | 521,100 | 1,733,700 | 1,735,300 | 2,087,800 | 2,090,100 | 2,168,000 | 2,026,400 | 1,934,200 |
| 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 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $1,373,000K)
= 0.00
The debt-to-capital ratio of ATI Inc has exhibited some fluctuations over the past eight quarters. The ratio has ranged between 0.60 and 0.69 during this period. In the most recent quarter, Q4 2023, the ratio stood at 0.61, indicating that 61% of ATI Inc's capital structure is financed by debt.
Overall, the trend in the debt-to-capital ratio shows a slight decrease from Q2 2022 to Q4 2023, suggesting a potential improvement in the company's ability to manage its debt relative to its total capital. However, it is important to note that the ratio has not shown a consistent downward trend, as evidenced by the fluctuations in the interim quarters.
ATI Inc's management should continue to monitor the debt-to-capital ratio closely to ensure that the company maintains a healthy balance between debt and equity in its capital structure. A sustainable and optimal debt-to-capital ratio is crucial for long-term financial stability and growth.