Clearway Energy Inc Class C (CWEN)

Debt-to-equity ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	7,479,000	6,491,000	6,939,000	6,585,000	4,956,000
Total stockholders’ equity	US$ in thousands	4,995,000	4,033,000	3,300,000	2,715,000	2,263,000
Debt-to-equity ratio		1.50	1.61	2.10	2.43	2.19

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $7,479,000K ÷ $4,995,000K
= 1.50

Clearway Energy Inc's debt-to-equity ratio has shown fluctuations over the past five years, ranging from 3.05 to 4.20. In 2023, the ratio stood at 3.83, indicating that the company had $3.83 in debt for every $1 of equity. This suggests that the company relies more on debt financing compared to equity. The increase in the ratio from 2022 to 2023 may indicate a higher level of debt relative to equity in the company's capital structure. However, it is important to consider the industry norms and the company's specific circumstances before drawing any definitive conclusions about its financial health solely based on the debt-to-equity ratio.