Blackline Inc (BL)

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	1,140,610	1,384,310	1,114,240	407,032	384,343
Total stockholders’ equity	US$ in thousands	260,881	111,868	325,036	422,070	398,613
Debt-to-capital ratio		0.81	0.93	0.77	0.49	0.49

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,140,610K ÷ ($1,140,610K + $260,881K)
= 0.81

The debt-to-capital ratio of Blackline Inc has fluctuated over the past five years. The ratio was relatively high in 2022 at 0.93, indicating that a significant portion of the company's capital structure was funded through debt. However, it decreased in 2023 to 0.81, suggesting a reduction in the proportion of debt relative to total capital.

In 2021, the debt-to-capital ratio was 0.77, which was lower compared to the previous year but higher than the levels seen in 2020 and 2019, where the ratio was consistent at 0.49. This stability in 2020 and 2019 may indicate a deliberate strategy to maintain a consistent debt-to-capital ratio.

Overall, the trend in Blackline Inc's debt-to-capital ratio shows varying levels of leverage over the years, with the company potentially adjusting its capital structure in response to changing business conditions or strategic objectives. Further analysis and consideration of the company's financial performance and goals would be necessary to fully understand the implications of these fluctuations in the debt-to-capital ratio.