Brinks Company (BCO)

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	3,262,500	3,202,200	3,251,200	3,190,200	3,273,200	3,269,200	3,060,900	2,961,400	2,841,700	2,701,100	2,702,200	2,427,600	2,334,200	2,407,000	2,362,600	1,756,800	1,554,800	1,660,800	1,657,700	1,596,500
Total stockholders’ equity	US$ in thousands	397,400	462,800	541,300	478,800	447,100	202,700	240,500	240,000	123,000	121,400	174,000	99,800	128,800	90,000	111,300	66,300	191,800	169,200	194,200	165,300
Debt-to-capital ratio		0.89	0.87	0.86	0.87	0.88	0.94	0.93	0.93	0.96	0.96	0.94	0.96	0.95	0.96	0.96	0.96	0.89	0.91	0.90	0.91

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $3,262,500K ÷ ($3,262,500K + $397,400K)
= 0.89

The debt-to-capital ratio of Brink`s Co. has been relatively stable over the past eight quarters, ranging between 0.87 and 0.94. This ratio represents the proportion of the company's total debt to its total capital, which includes both debt and equity.

With the ratio hovering around the 0.88 to 0.93 range for most of the quarters, it indicates that Brink`s Co. relies significantly on debt financing to support its operations and growth initiatives. A higher debt-to-capital ratio suggests that a larger portion of the company's capital structure is composed of debt, which can potentially increase financial risk and leverage.

It is important to note that while the company’s debt-to-capital ratio has remained relatively consistent, investors should monitor any significant changes in this ratio over time to assess Brink`s Co.`s ability to manage its debt levels effectively and sustain its financial health.