Crane NXT Co (CXT)
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 | 469,500 | 543,700 | 842,400 | 842,900 | 842,000 |
| Total stockholders’ equity | US$ in thousands | 964,000 | 783,800 | 763,800 | 1,528,900 | 1,473,700 |
| Debt-to-capital ratio | 0.33 | 0.41 | 0.52 | 0.36 | 0.36 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $469,500K ÷ ($469,500K + $964,000K)
= 0.33
The debt-to-capital ratio for Crane NXT Co has been fluctuating over the past five years. In 2023, the ratio decreased to 0.33 from 0.41 in 2022, indicating a lower level of debt relative to the company's capital structure. This improvement suggests that Crane NXT Co has either reduced its debt levels or increased its equity financing.
Comparing to the ratios in 2021 and 2020, when the ratio was at 0.52 and 0.36 respectively, we see a notable improvement in the company's leverage position. However, it is important to note that the ratio in 2023 is consistent with the ratio in 2019, which also stood at 0.36.
Overall, the trend in the debt-to-capital ratio for Crane NXT Co indicates a fluctuating but generally improving financial leverage position over the past five years. This suggests potential efforts by the company to manage its debt levels and optimize its capital structure in order to enhance its financial health and stability.
Peer comparison
Dec 31, 2023