Consolidated Communications (CNSL)

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	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-equity ratio		2.75	2.53	2.38	2.13	2.05	2.07	2.91	2.94	2.53	5.33	7.54	6.43	4.97	5.73	6.04	6.40	6.60	6.42	6.49	6.19

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $2,142,860K ÷ $779,364K
= 2.75

Consolidated Communications Holdings Inc's debt-to-equity ratio has exhibited some fluctuation over the past eight quarters. The trend shows an increase in the ratio from Q1 2022 to Q1 2023, indicating a rising level of debt in comparison to equity during this period. The ratio peaked at 2.94 in Q2 2022 before declining slightly in the subsequent quarters.

The company has generally maintained a higher level of debt relative to equity, with the ratio consistently above 2. This suggests that Consolidated Communications Holdings Inc has been relying more on debt financing than equity financing to support its operations and growth initiatives.

Overall, the upward trend in the debt-to-equity ratio signals potential financial risks associated with a higher debt burden. Investors and stakeholders may monitor this ratio closely to assess the company's leverage and financial stability.