Choice Hotels International Inc (CHH)

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	1,068,750	1,391,270	1,384,290	1,374,810	1,200,550	1,155,140	844,729	844,426	844,123	843,820	—	—	1,058,740	1,058,310	1,232,140	1,208,940	844,102	875,843	784,280	804,730
Total stockholders’ equity	US$ in thousands	35,598	72,413	54,691	47,008	154,660	284,511	416,725	314,645	265,882	212,146	104,933	19,235	-5,752	-21,404	-42,752	-43,854	-23,511	-56,735	-122,660	-185,477
Debt-to-equity ratio		30.02	19.21	25.31	29.25	7.76	4.06	2.03	2.68	3.17	3.98	0.00	0.00	—	—	—	—	—	—	—	—

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,068,750K ÷ $35,598K
= 30.02

Choice Hotels International Inc's debt-to-equity ratio has shown a fluctuating trend over the time periods provided. The ratio increased significantly from 0.00 in the second and third quarters of 2021 to 30.02 at the end of the fourth quarter of 2023. This could indicate a substantial increase in debt relative to equity during this period.

Additionally, there was a sharp rise in the ratio from the third quarter of 2022 to the fourth quarter of 2022, suggesting a notable change in the company's capital structure. The ratio remained relatively stable from the first quarter to the third quarter of 2023 before showing an increase in the fourth quarter of 2023.

Overall, the trend in Choice Hotels International Inc's debt-to-equity ratio indicates varying levels of leverage over the periods provided, with a notable increase towards the end of 2023. This may warrant further analysis to understand the reasons behind the fluctuations and the potential implications for the company's financial health and risk profile.