Topbuild Corp (BLD)

Debt-to-equity ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Long-term debt	US$ in thousands	1,327,160	1,341,440	1,351,970	1,362,500	1,373,030	1,383,720	1,394,790	1,405,930	1,417,260	1,428,940	1,437,100	1,445,470	1,454,480	675,567	680,999	686,493	683,396	688,870	694,320	699,750
Total stockholders’ equity	US$ in thousands	2,209,620	2,114,270	2,357,310	2,712,030	2,563,660	2,407,830	2,238,050	2,065,140	1,929,710	1,834,440	1,742,660	1,697,240	1,636,430	1,561,710	1,474,820	1,396,360	1,348,790	1,281,590	1,217,650	1,179,820
Debt-to-equity ratio		0.60	0.63	0.57	0.50	0.54	0.57	0.62	0.68	0.73	0.78	0.82	0.85	0.89	0.43	0.46	0.49	0.51	0.54	0.57	0.59

December 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,327,160K ÷ $2,209,620K
= 0.60

The debt-to-equity ratio of Topbuild Corp has shown a declining trend from 0.59 as of March 31, 2020, to 0.60 as of December 31, 2024. The ratio decreased steadily until March 31, 2023, reaching its lowest point of 0.50, indicating a decreasing reliance on debt financing relative to equity. However, the ratio experienced a slight increase in the subsequent periods and fluctuated around 0.60, which may signal a potential shift towards increased debt usage compared to equity. Overall, a debt-to-equity ratio between 0.50 and 0.60 suggests a balanced capital structure but monitoring future trends is crucial to assess the company's financial leverage position accurately.