Bio-Rad Laboratories Inc (BIO)

Debt-to-equity ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	1,199,100	1,197,700	10,514	12,258	13,579
Total stockholders’ equity	US$ in thousands	8,741,130	9,615,250	13,685,200	9,889,690	5,756,840
Debt-to-equity ratio		0.14	0.12	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,199,100K ÷ $8,741,130K
= 0.14

The debt-to-equity ratio of Bio-Rad Laboratories Inc. has shown fluctuations over the past five years. In 2019, the ratio stood at 0.08, indicating a moderate level of debt in relation to equity. However, in 2021 and 2020, the company's debt-to-equity ratio dropped to 0.00, suggesting either a significant decrease in debt or a substantial increase in equity during those years.

The year 2022 saw a slight increase in the debt-to-equity ratio to 0.12, signifying a higher proportion of debt compared to equity. Finally, by the end of 2023, the ratio had increased further to 0.14, indicating a relatively higher level of debt in the capital structure of Bio-Rad Laboratories Inc. compared to the previous years.

Overall, the trend in the debt-to-equity ratio suggests varying levels of leverage over the years, with the company showing a mix of relying more on either debt or equity to finance its operations. Analyzing the factors behind these changes in the ratio could provide valuable insights into the company's financial strategy and risk management practices.