Constellation Energy Corp (CEG)

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
Long-term debt	US$ in thousands	7,496,000	7,512,000	6,156,000	5,763,000	4,466,000	4,480,000	4,507,000	4,548,000	4,575,000
Total stockholders’ equity	US$ in thousands	10,925,000	11,666,000	11,256,000	10,728,000	11,018,000	10,803,000	11,000,000	11,105,000	11,219,000
Debt-to-equity ratio		0.69	0.64	0.55	0.54	0.41	0.41	0.41	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

Constellation Energy Corporation's debt-to-equity ratio has been gradually increasing over the past five quarters. The ratio stood at 0.52 in Q4 2022 and has since risen to 0.85 in Q4 2023. This indicates that the company is relying more on debt financing compared to equity financing over the period. The trend suggests that the company's leverage has been growing, which may pose risks in terms of potential financial distress or higher interest expenses. Further investigation into the reasons behind this increasing trend would be necessary to assess the company's overall financial health and risk profile.