Quest Diagnostics Incorporated (DGX)

Debt-to-equity 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 4,410,000 3,978,000 4,010,000 4,013,000 4,018,000 4,020,000 4,033,000 3,966,000 3,188,000 3,169,000 3,131,000
Total stockholders’ equity US$ in thousands 6,307,000 6,425,000 6,249,000 6,050,000 5,893,000 6,235,000 6,411,000 6,377,000 6,444,000 6,392,000 5,899,000 6,745,000 6,759,000 6,400,000 5,831,000 5,657,000 5,641,000 5,605,000 5,459,000 5,290,000
Debt-to-equity ratio 0.70 0.00 0.00 0.00 0.68 0.00 0.00 0.00 0.62 0.00 0.00 0.00 0.59 0.63 0.69 0.71 0.70 0.57 0.58 0.59

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $4,410,000K ÷ $6,307,000K
= 0.70

Quest Diagnostics, Inc.'s debt-to-equity ratio has shown a fluctuating trend over the past eight quarters. In Q4 2023, the ratio stood at 0.77, indicating that the company had $0.77 in debt for every $1 of equity. This was an increase from the previous quarter's ratio of 0.66. The ratio had previously peaked at 0.69 in both Q2 and Q4 of 2023.

Compared to the same quarter in the previous year, the debt-to-equity ratio has generally been higher in 2023. However, it remains relatively stable within the range of 0.62 to 0.77 over the past eight quarters. This indicates that Quest Diagnostics, Inc. relies more on debt financing compared to shareholder equity, with varying degrees of leverage in its capital structure throughout the periods examined.

Overall, ongoing monitoring of the debt-to-equity ratio is essential to assess the company's financial risk, capital structure stability, and ability to meet its debt obligations while maximizing shareholder value.


Peer comparison

Dec 31, 2023