CTS Corporation (CTS)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	67,500	83,670	50,000	54,600	99,700
Total stockholders’ equity	US$ in thousands	526,822	506,224	463,578	423,682	405,219
Debt-to-capital ratio		0.11	0.14	0.10	0.11	0.20

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $67,500K ÷ ($67,500K + $526,822K)
= 0.11

The debt-to-capital ratio for CTS Corp. has fluctuated over the past five years. In 2023, the ratio decreased to 0.11 from 0.14 in 2022, indicating a lower level of debt relative to the company's total capital. This could suggest improved financial stability and a reduced reliance on debt for funding. Comparing to the ratios of 0.10 and 0.11 in 2021 and 2020 respectively, the 2023 ratio remains relatively consistent. However, it is notably lower than the elevated ratio of 0.20 in 2019, reflecting a significant reduction in debt relative to the company's capital structure over the years. Overall, the decreasing trend in the debt-to-capital ratio for CTS Corp. indicates a positive shift towards a healthier financial position with better debt management practices.