Chemed Corp (CHE)

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	—	—	—	16,250	92,500	95,850	111,800	120,000	185,000	—	—	—	—	—	—	160,000	90,000	130,000	85,000	100,000
Total stockholders’ equity	US$ in thousands	1,107,880	1,019,240	952,079	880,053	798,715	721,416	684,960	666,705	623,273	779,719	870,774	928,884	901,200	801,408	750,696	683,601	726,608	672,380	618,569	588,010
Debt-to-equity ratio		0.00	0.00	0.00	0.02	0.12	0.13	0.16	0.18	0.30	0.00	0.00	0.00	0.00	0.00	0.00	0.23	0.12	0.19	0.14	0.17

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $1,107,880K
= 0.00

The debt-to-equity ratio of Chemed Corp. has fluctuated over the past eight quarters. In Q4 2022, the ratio was 0.12, indicating the company had a moderate level of debt relative to its equity. This ratio increased to 0.14 in Q3 2022 and further to 0.17 in Q2 2022, suggesting a rising trend in the company's leverage.

However, starting from Q1 2023, there was a significant improvement in the debt-to-equity ratio, dropping to 0.02 in Q1 2023 and reaching 0.00 in each of the following three quarters. These low ratios indicate a minimal level of debt compared to equity, signaling a more conservative financial structure and potentially reduced financial risk for the company.

Overall, the recent trend of decreasing debt-to-equity ratios suggests that Chemed Corp. has been effectively managing its debt levels and enhancing its financial stability. It is important for investors and stakeholders to monitor future changes in this ratio to assess the company's leverage and financial health.