Blackbaud Inc (BLKB)

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	760,405	723,376	827,403	858,912	840,241	835,881	921,619	963,109	937,483	514,418	531,973	537,924	518,193	497,953	478,919	520,576	459,600	495,556	553,812	576,068
Total stockholders’ equity	US$ in thousands	808,705	800,171	761,370	719,733	744,032	732,812	720,474	705,050	717,060	396,837	405,274	416,160	426,150	441,835	410,802	380,393	396,764	381,457	372,702	365,748
Debt-to-capital ratio		0.48	0.47	0.52	0.54	0.53	0.53	0.56	0.58	0.57	0.56	0.57	0.56	0.55	0.53	0.54	0.58	0.54	0.57	0.60	0.61

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $760,405K ÷ ($760,405K + $808,705K)
= 0.48

The debt-to-capital ratio for Blackbaud Inc has exhibited some fluctuations over the past eight quarters. The ratio has ranged from 0.48 to 0.58 during this period. In Q1 2022, the ratio was highest at 0.58, indicating that debt made up 58% of the company's capital structure at that time.

However, in more recent quarters, the ratio has been relatively lower, with Q4 2023 showing a ratio of 0.49. This suggests that the proportion of debt in relation to the total capital has decreased to 49% in the most recent quarter.

Overall, the trend in the debt-to-capital ratio seems to have slightly decreased over the past few quarters, indicating Blackbaud Inc may be managing its debt levels more effectively or may have increased its capital base. It is important for the company to monitor this ratio to ensure that it maintains a healthy balance between debt and equity in its capital structure.