Constellation Energy Corp (CEG)

Debt-to-equity ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-term debt	US$ in thousands	7,496,000	4,466,000	4,575,000
Total stockholders’ equity	US$ in thousands	10,925,000	11,018,000	11,219,000
Debt-to-equity ratio		0.69	0.41	0.41

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $7,496,000K ÷ $10,925,000K
= 0.69

The debt-to-equity ratio of Constellation Energy Corporation has fluctuated over the past four years, indicating changes in the company's capital structure. In 2023, the ratio increased to 0.85 from 0.52 in 2022, suggesting a higher level of debt relative to equity. This could indicate increased leverage or borrowing by the company during the year.

Comparing this ratio to previous years, we observe a similar pattern of fluctuation. In 2022, the ratio was significantly lower at 0.52, indicating a stronger equity position relative to debt. However, in 2021 and 2020, the ratios were 0.73 and 0.58 respectively, suggesting a moderate level of debt compared to equity in those years.

Overall, the upward trend in the debt-to-equity ratio from 2020 to 2023 may raise concerns about the company's financial leverage and ability to meet its debt obligations. It would be important for stakeholders to further analyze the reasons behind these changes and assess the implications for Constellation Energy Corporation's financial health and risk profile.