BJs Restaurants Inc (BJRI)

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	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	365,761	345,515	333,771	293,788	290,287
Debt-to-capital ratio		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)
= $—K ÷ ($—K + $365,761K)
= 0.00

The debt-to-capital ratio for BJs Restaurants Inc has consistently been reported as 0.00 for the past five years, including the latest available data as of December 31, 2023. This indicates that the company has not utilized any debt in its capital structure, relying solely on equity to finance its operations and investments. A debt-to-capital ratio of 0.00 suggests that the company has a conservative financial policy with minimal financial risk associated with debt obligations. However, it's worth noting that a debt-to-capital ratio of 0.00 may also indicate that the company has significant cash reserves or retained earnings that allow it to fund its operations without the need for borrowing. Further analysis of the company's financial statements and capital structure would be required to fully understand the implications of this consistent low debt-to-capital ratio.