Bellring Brands LLC (BRBR)

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
Long-term debt	US$ in thousands	832,100	856,800	910,500	970,100	944,800	929,500	914,200	938,800	473,400	481,200	490,700	539,600	635,100	622,600	683,900	756,400	723,800
Total stockholders’ equity	US$ in thousands	-286,900	-323,500	-364,700	-363,100	-370,300	-376,200	-389,600	-428,800	-2,827,800	-3,062,800	-3,155,000	-2,435,200	-2,499,700	-2,182,600	-2,136,700	-1,863,200	-2,278,200
Debt-to-capital ratio		1.53	1.61	1.67	1.60	1.64	1.68	1.74	1.84	—	—	—	—	—	—	—	—	—

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $832,100K ÷ ($832,100K + $-286,900K)
= 1.53

The debt-to-capital ratio of Bellring Brands Inc has shown fluctuation over the past eight quarters. The ratio ranged from a low of 1.53 in Q1 2024 to a high of 1.84 in Q2 2022. Generally, higher debt-to-capital ratio indicates higher financial risk, as it signifies a higher proportion of debt in the company's capital structure compared to equity.

In the most recent quarter (Q1 2024), the debt-to-capital ratio decreased to 1.53 compared to the previous quarter, Q4 2023, where it was 1.61. This decrease suggests a potential reduction in financial risk and a more favorable mix of debt and equity in the company's capital structure.

However, the company's debt-to-capital ratio is still relatively high, indicating that a significant portion of the company's capital is financed by debt. Bellring Brands Inc should continue to monitor and manage its debt levels carefully to ensure financial stability and reduce the risk associated with excessive leverage.