CoreCivic Inc (CXW)
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 | 1,083,480 | 1,055,590 | 1,058,820 | 1,092,620 | 1,084,860 | 1,113,940 | 1,148,680 | 1,483,950 | 1,492,050 | 1,586,360 | 1,480,290 | 1,719,120 | 1,747,660 | 2,043,690 | 2,227,320 | 2,236,430 | 1,928,020 | 1,521,780 | 1,569,120 | 1,828,110 |
| Total stockholders’ equity | US$ in thousands | 1,477,570 | 1,458,300 | 1,439,140 | 1,419,730 | 1,432,410 | 1,402,180 | 1,368,940 | 1,391,520 | 1,372,470 | 1,339,360 | 1,286,960 | 1,266,960 | 1,390,170 | 1,412,720 | 1,381,910 | 1,355,400 | 1,376,750 | 1,383,200 | 1,382,590 | 1,382,410 |
| Debt-to-capital ratio | 0.42 | 0.42 | 0.42 | 0.43 | 0.43 | 0.44 | 0.46 | 0.52 | 0.52 | 0.54 | 0.53 | 0.58 | 0.56 | 0.59 | 0.62 | 0.62 | 0.58 | 0.52 | 0.53 | 0.57 |
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 relatively consistent over the past eight quarters, ranging from 0.42 to 0.52. The ratio indicates the proportion of the company's capital structure that is funded by debt.
The decreasing trend in the debt-to-capital ratio from Q1 2022 to Q3 2022 suggests a reduction in the company's reliance on debt financing during that period. However, the ratio increased in the last two quarters, indicating a potential shift back towards a higher level of debt relative to total capital.
With the latest ratio at 0.43, CoreCivic Inc continues to maintain a moderate level of debt in its capital structure. Investors and stakeholders may monitor future changes in the debt-to-capital ratio to assess the company's risk exposure and financial leverage.
Peer comparison
Dec 31, 2023