American Axle & Manufacturing (AXL)
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 | 2,794,700 | 2,879,800 | 2,902,400 | 2,897,300 | 2,896,800 | 3,001,000 | 3,063,700 | 3,092,900 | 3,119,100 | — | — | — | 3,486,900 | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 604,900 | 613,700 | 644,800 | 621,700 | 627,300 | 486,500 | 469,200 | 484,500 | 457,800 | 432,800 | 441,300 | 401,300 | 370,500 | 340,900 | 196,200 | 389,800 | 977,600 | 1,406,800 | 1,569,500 | 1,521,300 |
| Debt-to-capital ratio | 0.82 | 0.82 | 0.82 | 0.82 | 0.82 | 0.86 | 0.87 | 0.86 | 0.87 | 0.00 | 0.00 | 0.00 | 0.90 | 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)
= $2,794,700K ÷ ($2,794,700K + $604,900K)
= 0.82
The debt-to-capital ratio of American Axle & Manufacturing Holdings Inc has remained relatively stable over the past eight quarters, consistently hovering around 0.82 to 0.87. This indicates that a significant portion of the company's capital structure is funded by debt, with debt making up approximately 82% to 87% of the total capital on average during this period. The consistent ratio suggests that the company has been able to manage its debt levels effectively and maintain a balance between debt and equity financing. Investors and creditors may view this stable debt-to-capital ratio as a positive sign of financial stability and prudent capital management by the company.
Peer comparison
Dec 31, 2023