Celanese Corporation (CE)
Debt-to-capital ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 13,662,000 | 13,373,000 | 3,176,000 | 3,227,000 | 3,409,000 |
| Total stockholders’ equity | US$ in thousands | 7,091,000 | 5,637,000 | 4,189,000 | 3,526,000 | 2,507,000 |
| Debt-to-capital ratio | 0.66 | 0.70 | 0.43 | 0.48 | 0.58 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $13,662,000K ÷ ($13,662,000K + $7,091,000K)
= 0.66
The debt-to-capital ratio of Celanese Corp has fluctuated over the past five years, indicating varying levels of leverage during this period. The ratio stood at 0.66 at the end of 2023, demonstrating that the company's debt represented 66% of its total capital structure. This was a decrease from the previous year, when the ratio was higher at 0.72, suggesting a reduction in the proportion of debt relative to total capital.
In 2021, the debt-to-capital ratio was relatively low at 0.49, indicating that the company had less debt in its capital structure compared to the previous year. However, there was a slight increase to 0.51 in 2020, suggesting a moderate rise in the proportion of debt. The highest level of leverage was observed in 2019, with a ratio of 0.61, indicating that the company had a higher proportion of debt relative to total capital that year.
Overall, the trend in Celanese Corp's debt-to-capital ratio reflects fluctuations in the company's capital structure and leverage levels over the past five years. It is important for investors and stakeholders to monitor changes in this ratio to assess the company's financial risk and ability to meet its debt obligations.
Peer comparison
Dec 31, 2023