AptarGroup Inc (ATR)

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	600,000	868,700	900,000	1,100,000	1,100,000
Total stockholders’ equity	US$ in thousands	2,306,820	2,053,940	1,969,410	1,850,390	1,571,920
Debt-to-capital ratio		0.21	0.30	0.31	0.37	0.41

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $600,000K ÷ ($600,000K + $2,306,820K)
= 0.21

The debt-to-capital ratio of Aptargroup Inc. has exhibited a declining trend over the past five years, decreasing from 0.43 in 2019 to 0.33 in 2023. This indicates that the company has reduced its reliance on debt as a source of financing relative to its total capital structure. A decreasing trend in the debt-to-capital ratio is generally viewed positively by investors and creditors as it signifies a lower level of financial risk and greater financial stability. Aptargroup Inc. appears to have effectively managed its debt levels over the years, potentially enhancing its financial health and flexibility.