California Water Service Group (CWT)

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 1,052,770 1,051,850 1,052,070 1,052,340 1,052,490 1,053,940 1,054,170 1,055,640 1,055,790 1,059,720 1,059,940 780,951 781,100 785,055 785,257 786,467 786,754 807,478 807,693 710,602
Total stockholders’ equity US$ in thousands 1,426,730 1,410,670 1,389,520 1,298,200 1,317,590 1,273,460 1,202,520 1,164,630 1,177,590 1,115,970 997,118 929,802 921,344 890,192 782,023 755,140 779,906 757,795 723,164 714,129
Debt-to-capital ratio 0.42 0.43 0.43 0.45 0.44 0.45 0.47 0.48 0.47 0.49 0.52 0.46 0.46 0.47 0.50 0.51 0.50 0.52 0.53 0.50

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,052,770K ÷ ($1,052,770K + $1,426,730K)
= 0.42

The debt-to-capital ratio of California Water Service Group has been relatively stable over the past eight quarters, ranging from 0.45 to 0.49. This indicates that the company's level of debt in relation to its total capital structure has remained within a narrow band. A ratio of around 0.46 to 0.48 suggests that approximately 46% to 48% of the company's capital is financed through debt, while the remaining percentage represents the capital contributed by equity investors.

Overall, the consistency in the debt-to-capital ratio suggests that California Water Service Group has maintained a balanced approach to its capital structure management. It is crucial for investors and stakeholders to monitor this ratio to assess the company's leverage levels and financial risk.