Corteva Inc (CTVA)
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 2,434,000 | 2,320,000 | 2,368,000 | 1,198,000 | 1,172,000 | 1,154,000 | 1,188,000 | 1,107,000 | 1,120,000 | 1,134,000 | 1,139,000 | 1,121,000 | 1,166,000 | 1,164,000 | 1,141,000 | 612,000 | 114,000 |
| Total stockholders’ equity | US$ in thousands | 25,037,000 | 25,226,000 | 26,220,000 | 25,599,000 | 25,302,000 | 24,844,000 | 25,831,000 | 25,696,000 | 25,384,000 | 24,740,000 | 25,385,000 | 24,538,000 | 24,824,000 | 24,106,000 | 24,561,000 | 23,825,000 | 24,309,000 |
| Debt-to-capital ratio | 0.09 | 0.08 | 0.08 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.05 | 0.04 | 0.03 | 0.00 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,434,000K ÷ ($2,434,000K + $25,037,000K)
= 0.09
The debt-to-capital ratio of Corteva Inc has exhibited some fluctuations over the past eight quarters. In Q4 2023, the ratio stood at 0.09, indicating that the company's total debt represented 9% of its total capital. This was a significant improvement compared to the previous quarter where the ratio was 0.19.
The trend in the debt-to-capital ratio shows variability, with peaks and valleys occurring over the quarters. The ratio was relatively low in Q4 2022 at 0.05, suggesting a conservative approach to debt usage. However, it increased in the following quarters before decreasing again in Q4 2023.
Overall, the company's debt-to-capital ratio has shown fluctuation but has generally been maintained at moderate levels, indicating a balanced approach to capital structure management. It is essential for stakeholders to monitor this ratio regularly to assess the company's leverage and financial risk.
Peer comparison
Dec 31, 2023