Ball Corporation (BALL)
Debt-to-equity 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 | 8,070,000 | 8,770,000 | 8,800,000 | 8,610,000 | 7,990,000 | 7,600,000 | 8,400,000 | 8,200,000 | 8,030,000 | 8,900,000 | 8,100,000 | 8,100,000 | 8,300,000 | 7,679,000 | 7,158,000 | 7,476,000 | 6,337,000 | 6,623,000 | 6,916,000 | 6,719,000 |
| Total stockholders’ equity | US$ in thousands | 3,769,000 | 3,938,000 | 3,836,000 | 3,639,000 | 3,461,000 | 3,479,000 | 3,465,000 | 3,898,000 | 3,627,000 | 3,704,000 | 3,639,000 | 3,492,000 | 3,275,000 | 2,886,000 | 2,762,000 | 2,630,000 | 2,949,000 | 3,365,000 | 3,460,000 | 3,546,000 |
| Debt-to-equity ratio | 2.14 | 2.23 | 2.29 | 2.37 | 2.31 | 2.18 | 2.42 | 2.10 | 2.21 | 2.40 | 2.23 | 2.32 | 2.53 | 2.66 | 2.59 | 2.84 | 2.15 | 1.97 | 2.00 | 1.89 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $8,070,000K ÷ $3,769,000K
= 2.14
The debt-to-equity ratio of Ball Corp. has shown some fluctuations over the last eight quarters. The ratio has consistently been above 2, indicating a higher reliance on debt to finance the company's operations compared to equity.
In the most recent quarter, the debt-to-equity ratio was 2.27, showing a slight decrease compared to the previous quarter. This could be an indication that the company has either reduced its debt levels or increased its equity position.
Looking at the trend over the past two years, there has been some variability in the ratio, with the highest value recorded in Q1 2023 at 2.66 and the lowest in Q1 2022 at 2.20.
Overall, the debt-to-equity ratio for Ball Corp. has been consistently above 2, suggesting a relatively high level of financial leverage. It would be important to track this ratio over time to see if the company is actively managing its debt and equity structure to maintain a healthy balance sheet.
Peer comparison
Dec 31, 2023