3D Systems Corporation (DDD)

Debt-to-equity ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	319,356	449,510	446,859	19,218	45,215
Total stockholders’ equity	US$ in thousands	428,759	751,704	842,381	430,723	522,159
Debt-to-equity ratio		0.74	0.60	0.53	0.04	0.09

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $319,356K ÷ $428,759K
= 0.74

The debt-to-equity ratio of 3D Systems Corporation has shown an increasing trend over the past five years, rising from 0.09 in 2019 to 0.74 in 2023. This indicates that the company has been relying more on debt financing relative to equity financing.

In 2020, there was a significant increase in the ratio, suggesting a substantial increase in debt relative to equity, which could have been driven by strategic decisions or financial challenges faced by the company during that period.

The ratio continued to climb in 2021 and 2022, indicating a sustained reliance on debt to fund operations or investments. By the end of 2023, the ratio had reached 0.74, signifying that the company's debt levels were approximately 74% of its equity.

This increasing trend in the debt-to-equity ratio may raise concerns about the company's financial leverage and ability to service its debt obligations. It is essential for investors and stakeholders to closely monitor this ratio to assess the company's financial health and risk profile.