Caesars Entertainment Corporation (CZR)

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	12,224,000	12,230,000	12,480,000	12,904,000	12,659,000	12,857,000	13,668,000	13,741,000	13,722,000	14,453,000	13,838,000	14,103,000	14,073,000	15,203,000	2,670,740	2,780,690	2,325,000	2,950,960	3,018,460	3,057,150
Total stockholders’ equity	US$ in thousands	4,552,000	4,604,000	4,545,000	3,597,000	3,713,000	3,838,000	3,649,000	3,785,000	4,480,000	4,890,000	5,134,000	4,613,000	5,016,000	3,370,000	1,616,450	940,209	1,117,000	1,126,780	1,085,520	1,063,260
Debt-to-capital ratio		0.73	0.73	0.73	0.78	0.77	0.77	0.79	0.78	0.75	0.75	0.73	0.75	0.74	0.82	0.62	0.75	0.68	0.72	0.74	0.74

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $12,224,000K ÷ ($12,224,000K + $4,552,000K)
= 0.73

The debt-to-capital ratio of Caesars Entertainment Inc has been quite stable over the past eight quarters, ranging from 0.84 to 0.88. This ratio is a measure of the proportion of the company's capital that is funded by debt, with a higher ratio indicating a larger reliance on debt financing.

With Caesars consistently maintaining a ratio above 0.80, it suggests that a significant portion of the company's capital structure is debt-based rather than equity-based. This could be attributed to financing strategies, acquisitions, or investments requiring substantial debt funding.

A relatively stable ratio over time indicates that Caesars has been able to manage its debt levels consistently in relation to its overall capital structure. However, it's essential for investors and stakeholders to monitor any significant changes in this ratio as it could impact the company's financial health and risk profile. A sustained increase in the debt-to-capital ratio may indicate a higher financial risk, while a decrease could signal improved financial stability.