CoreCivic Inc (CXW)
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 | 1,083,480 | 1,084,860 | 1,492,050 | 1,747,660 | 1,928,020 |
| Total stockholders’ equity | US$ in thousands | 1,477,570 | 1,432,410 | 1,372,470 | 1,390,170 | 1,376,750 |
| Debt-to-capital ratio | 0.42 | 0.43 | 0.52 | 0.56 | 0.58 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,083,480K ÷ ($1,083,480K + $1,477,570K)
= 0.42
CoreCivic Inc's debt-to-capital ratio has been showing a decreasing trend over the past five years, indicating an improving financial leverage position. The ratio decreased from 0.59 in 2019 to 0.43 in 2023. This suggests that the company has been reducing its reliance on debt financing in relation to its total capital structure. A lower debt-to-capital ratio signifies a lower level of financial risk and potential for greater financial stability. It is essential for investors and creditors to monitor this trend to assess CoreCivic Inc's ability to manage its debt obligations effectively and sustain its operations in the long term.
Peer comparison
Dec 31, 2023