Blackbaud Inc (BLKB)

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 760,405 840,241 937,483 518,193 459,600
Total stockholders’ equity US$ in thousands 808,705 744,032 717,060 426,150 396,764
Debt-to-equity ratio 0.94 1.13 1.31 1.22 1.16

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $760,405K ÷ $808,705K
= 0.94

The debt-to-equity ratio of Blackbaud Inc has shown a decreasing trend from 2019 to 2023. The ratio was at 1.18 in 2019, peaked at 1.33 in 2021, and has since decreased to 0.96 in 2023. This indicates that the company's reliance on debt in relation to its equity has been declining over the years. However, it is worth noting that the ratio is still above 1, suggesting that Blackbaud Inc continues to have more debt than equity in its capital structure. Overall, the decreasing trend in the debt-to-equity ratio signifies a positive shift towards a more balanced capital structure, although the company still maintains a significant level of debt relative to its equity.