BJs Restaurants Inc (BJRI)

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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	365,761	360,970	366,046	351,234	345,515	339,014	340,344	337,662	333,771	335,462	335,134	325,283	293,788	308,911	312,594	271,904	290,287	286,565	324,236	329,268
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	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)
= $—K ÷ ($—K + $365,761K)
= 0.00

The debt-to-capital ratio of BJs Restaurants Inc for all the periods shown in the table is consistently 0.00. This indicates that the company has not taken on any debt in relation to its capital structure during the periods analyzed. A debt-to-capital ratio of 0 suggests that the company relies solely on equity to finance its operations and growth, which can be viewed positively by investors and creditors as it signifies lower financial risk and a strong financial position. However, it is important to note that a debt-to-capital ratio of 0 may also imply missed opportunities for leveraging debt to potentially improve returns on equity. Further analysis of the company's capital structure and overall financial strategy would provide a more comprehensive understanding of its financial health and risk profile.