Blackbaud Inc (BLKB)

Debt-to-equity 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-equity ratio		0.94	0.90	1.09	1.19	1.13	1.14	1.28	1.37	1.31	1.30	1.31	1.29	1.22	1.13	1.17	1.37	1.16	1.30	1.49	1.58

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 fluctuated over the past eight quarters. It decreased from 1.39 in Q1 2022 to 0.93 in Q3 2023, indicating a reduction in financial leverage during this period. However, it increased to 1.11 in Q2 2023 and further to 1.22 in Q1 2023, suggesting an increase in debt relative to equity. The most recent ratio of 0.96 in Q4 2023 indicates a slight improvement compared to the previous quarter.

Overall, the trend in the debt-to-equity ratio of Blackbaud Inc shows some variability, with fluctuations between periods of higher and lower debt levels relative to equity. It is essential for stakeholders to closely monitor this ratio to assess the company's capital structure and financial risk.