Consolidated Communications (CNSL)

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	2,142,860	2,142,430	2,142,010	2,141,590	2,141,180	2,140,770	2,140,360	2,139,960	2,118,850	2,139,180	2,138,790	2,137,270	1,932,670	2,205,440	2,209,500	2,221,570	2,250,680	2,270,900	2,293,060	2,291,970
Total stockholders’ equity	US$ in thousands	779,364	845,352	899,238	1,005,240	1,045,450	1,032,780	734,313	728,837	836,376	401,636	283,494	332,506	389,228	384,963	365,667	347,213	340,881	353,500	353,101	370,167
Debt-to-capital ratio		0.73	0.72	0.70	0.68	0.67	0.67	0.74	0.75	0.72	0.84	0.88	0.87	0.83	0.85	0.86	0.86	0.87	0.87	0.87	0.86

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,142,860K ÷ ($2,142,860K + $779,364K)
= 0.73

The debt-to-capital ratio of Consolidated Communications Holdings Inc has displayed some fluctuations over the past eight quarters. In the most recent quarter of Q4 2023, the ratio stood at 0.74, showing a slight increase from the previous quarter's value of 0.72. This indicates that the company's debt level relative to its total capital has increased marginally.

Looking back over the quarters, the ratio has generally been fluctuating within a relatively narrow range, with values varying between 0.68 and 0.75. The highest level observed was in Q2 and Q1 of 2022, where the ratio reached 0.75, suggesting a higher reliance on debt relative to capital during that period.

Overall, the trend in the debt-to-capital ratio for Consolidated Communications Holdings Inc indicates a moderate level of indebtedness, with some variability in the degree of leverage employed by the company. Further analysis and consideration of other financial metrics would be beneficial to gain a more comprehensive understanding of the company's financial health and risk profile.