Chesapeake Utilities Corporation (CPK)

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	1,187,080	643,801	645,742	656,284	578,388	583,833	585,805	597,878	549,903	505,459	498,450	508,525	508,499	519,971	430,106	440,183	440,168	375,810	275,924	285,998
Total stockholders’ equity	US$ in thousands	1,246,100	866,677	864,228	858,588	832,801	814,438	815,701	805,512	774,130	750,962	741,564	726,388	697,085	616,690	593,277	584,129	561,577	544,711	544,384	543,659
Debt-to-capital ratio		0.49	0.43	0.43	0.43	0.41	0.42	0.42	0.43	0.42	0.40	0.40	0.41	0.42	0.46	0.42	0.43	0.44	0.41	0.34	0.34

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,187,080K ÷ ($1,187,080K + $1,246,100K)
= 0.49

The debt-to-capital ratio of Chesapeake Utilities Corp has been relatively stable over the past eight quarters, ranging from 0.47 to 0.53. This ratio indicates that, on average, approximately 47% to 53% of the company's capital structure is funded through debt. The consistency in the range of this ratio suggests that the company has maintained a balanced mix of debt and equity in its capital structure. It is important to monitor this ratio over time to assess the company's leverage and ability to meet its financial obligations.

Peer comparison

Dec 31, 2023

Company name

Symbol

Debt-to-capital ratio

Chesapeake Utilities Corporation

CPK

0.49

ONEOK Inc

OKE

0.56

Southwest Gas Holdings Inc

SWX

0.58