Quest Diagnostics Incorporated (DGX)
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 | 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-equity ratio | 0.70 | 0.68 | 0.62 | 0.59 | 0.70 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $4,410,000K ÷ $6,307,000K
= 0.70
The debt-to-equity ratio of Quest Diagnostics, Inc. has shown fluctuations over the past five years. The ratio stood at 0.86 in 2019, indicating that the company had a higher level of debt relative to equity. However, this was followed by a downward trend in the subsequent years, with ratios of 0.62 in 2020, 0.64 in 2021, and 0.69 in 2022.
Notably, by the end of 2023, the debt-to-equity ratio increased to 0.77, signaling a slight rise in the company's reliance on debt to finance its operations compared to the previous year. Overall, while the ratio has fluctuated, it suggests that Quest Diagnostics has been effectively managing its debt levels relative to equity, although the recent uptick in the ratio warrants monitoring to ensure sustainable financial health.
Peer comparison
Dec 31, 2023