Blackline Inc (BL)

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	1,140,610	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-equity ratio		4.37	12.37	3.43	0.96	0.96

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,140,610K ÷ $260,881K
= 4.37

The debt-to-equity ratio of Blackline Inc has fluctuated over the past five years. In 2023, the ratio stands at 4.37, indicating that the company's level of debt is significantly higher than its equity. This substantial increase from the previous year's ratio of 12.37 suggests a more conservative capital structure. However, compared to 2021 when the ratio was 3.43, the current level of debt relative to equity is still elevated. In 2020 and 2019, the ratio was at 0.96, highlighting a balanced mix of debt and equity financing. It is essential for Blackline Inc to monitor and manage its debt levels effectively to ensure financial stability and optimal capital structure in the long term.