Quest Diagnostics Incorporated (DGX)
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 | 4,410,000 | 3,978,000 | 4,010,000 | 4,013,000 | 3,966,000 |
| Total stockholders’ equity | US$ in thousands | 6,307,000 | 5,893,000 | 6,444,000 | 6,759,000 | 5,641,000 |
| Debt-to-capital ratio | 0.41 | 0.40 | 0.38 | 0.37 | 0.41 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $4,410,000K ÷ ($4,410,000K + $6,307,000K)
= 0.41
Quest Diagnostics, Inc.'s debt-to-capital ratio has fluctuated over the past five years, ranging from 0.38 to 0.46. The ratio increased slightly from 0.38 in 2020 to 0.41 in 2022, before reaching its highest value of 0.46 in 2019. Subsequently, there was a decreasing trend with ratios of 0.41 in 2022, 0.39 in 2021, and 0.43 in 2023. This indicates that the company's reliance on debt to finance its operations and investments compared to its total capital has been fluctuating but has generally been within a moderate range. It is important for stakeholders to closely monitor this ratio to assess the company's financial leverage and risk management strategies.
Peer comparison
Dec 31, 2023