CF Industries Holdings Inc (CF)
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 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 2,968,000 | 2,967,000 | 2,967,000 | 2,966,000 | 2,965,000 | 2,965,000 | 2,964,000 | 2,963,000 | 3,465,000 | 3,465,000 | 3,713,000 | 3,713,000 | 3,712,000 | 3,960,000 | 3,959,000 | 3,958,000 | 3,957,000 | 4,204,000 | 4,203,000 | 4,700,000 |
| Total stockholders’ equity | US$ in thousands | 5,717,000 | 5,723,000 | 5,804,000 | 5,453,000 | 5,051,000 | 4,444,000 | 4,589,000 | 4,002,000 | 3,206,000 | 2,938,000 | 3,246,000 | 3,029,000 | 2,922,000 | 2,826,000 | 2,873,000 | 2,728,000 | 2,897,000 | 2,980,000 | 3,066,000 | 2,955,000 |
| Debt-to-capital ratio | 0.34 | 0.34 | 0.34 | 0.35 | 0.37 | 0.40 | 0.39 | 0.43 | 0.52 | 0.54 | 0.53 | 0.55 | 0.56 | 0.58 | 0.58 | 0.59 | 0.58 | 0.59 | 0.58 | 0.61 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,968,000K ÷ ($2,968,000K + $5,717,000K)
= 0.34
The debt-to-capital ratio of CF Industries Holdings Inc has been relatively stable over the past eight quarters, ranging from 0.34 to 0.46. During the most recent quarter, Q4 2023, the ratio remained at 0.34, the same as in Q3 2023 and Q2 2023. This indicates that roughly 34% of CF Industries' capital structure is funded by debt.
Although there was a slight increase in the ratio in Q1 2023, the company managed to maintain a healthy level of debt relative to its capital. The peak ratio of 0.46 in Q1 2022 suggests a higher reliance on debt at that time, which has since decreased. Overall, CF Industries has shown consistent management of its debt levels, maintaining a balanced capital structure over the reviewed period.
Peer comparison
Dec 31, 2023