Celanese Corporation (CE)
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 | 13,662,000 | 12,291,000 | 12,889,000 | 13,396,000 | 13,373,000 | 11,360,000 | 3,022,000 | 3,132,000 | 3,176,000 | 3,724,000 | 3,156,000 | 3,135,000 | 3,227,000 | 3,140,000 | 2,989,000 | 3,356,000 | 3,409,000 | 3,359,000 | 3,444,000 | 2,933,000 |
| Total stockholders’ equity | US$ in thousands | 7,091,000 | 6,491,000 | 5,624,000 | 5,661,000 | 5,637,000 | 4,950,000 | 4,880,000 | 4,607,000 | 4,189,000 | 3,919,000 | 3,798,000 | 3,542,000 | 3,526,000 | 2,508,000 | 2,487,000 | 2,448,000 | 2,507,000 | 2,747,000 | 2,864,000 | 3,047,000 |
| Debt-to-equity ratio | 1.93 | 1.89 | 2.29 | 2.37 | 2.37 | 2.29 | 0.62 | 0.68 | 0.76 | 0.95 | 0.83 | 0.89 | 0.92 | 1.25 | 1.20 | 1.37 | 1.36 | 1.22 | 1.20 | 0.96 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $13,662,000K ÷ $7,091,000K
= 1.93
The debt-to-equity ratio of Celanese Corp has shown a fluctuating trend over the past eight quarters, ranging from 0.79 to 2.61. In Q4 2023, the ratio decreased to 1.93 from 2.11 in the previous quarter. This indicates that the company's debt levels relative to its equity decreased during this period. However, compared to Q2 and Q1 2023, where the ratio was 2.56 and 2.61 respectively, the current ratio remains relatively high.
In Q2 and Q1 2022, the debt-to-equity ratio was significantly lower at 0.79 and 0.87, suggesting a stronger equity position relative to debt during that time. The increase in the ratio since then indicates a growing reliance on debt financing, which may raise concerns about the company's financial leverage and ability to cover its debt obligations.
Overall, the varying debt-to-equity ratios over the quarters reflect changes in Celanese Corp's capital structure and financial risk profile. Further analysis of the company's debt levels, profitability, and cash flow would provide a more comprehensive understanding of its financial health and sustainability.
Peer comparison
Dec 31, 2023