Curtiss-Wright Corporation (CW)
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 | 1,050,360 | 1,051,900 | 1,050,610 | 958,292 | 760,639 |
| Total stockholders’ equity | US$ in thousands | 2,328,410 | 1,981,210 | 1,826,490 | 1,787,570 | 1,774,370 |
| Debt-to-capital ratio | 0.31 | 0.35 | 0.37 | 0.35 | 0.30 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,050,360K ÷ ($1,050,360K + $2,328,410K)
= 0.31
The debt-to-capital ratio of Curtiss-Wright Corp. has shown fluctuations over the past five years. In 2023, the ratio decreased to 0.31 from 0.39 in 2022, indicating a more conservative capital structure with a lower reliance on debt financing. However, it's worth noting that the ratio was higher in 2021 and 2020 at 0.37, suggesting increased debt utilization during those years. The lowest ratio observed was in 2019 at 0.30, which could imply a more equity-driven capital structure.
Overall, the trend in the debt-to-capital ratio for Curtiss-Wright Corp. shows variability with a recent decline in 2023, indicating a potential shift towards a more equity-centric financing approach. It is important to consider the company's long-term capital strategy, debt repayment capabilities, and industry norms when assessing the implications of these fluctuations in the debt-to-capital ratio.
Peer comparison
Dec 31, 2023