Deluxe Corporation (DLX)

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	1,506,700	1,546,330	1,581,150	1,607,860	1,572,530	1,606,460	1,618,360	1,635,190	1,625,750	1,719,000	1,776,280	840,000	840,000	1,040,000	1,140,000	1,140,000	883,500	924,000	951,000	946,000
Total stockholders’ equity	US$ in thousands	604,094	598,891	613,160	595,206	603,809	601,686	596,440	578,699	574,318	557,626	552,068	558,645	540,697	511,348	485,269	473,967	570,861	525,527	894,149	897,563
Debt-to-equity ratio		2.49	2.58	2.58	2.70	2.60	2.67	2.71	2.83	2.83	3.08	3.22	1.50	1.55	2.03	2.35	2.41	1.55	1.76	1.06	1.05

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,506,700K ÷ $604,094K
= 2.49

Deluxe Corp.'s debt-to-equity ratio has been fluctuating over the past eight quarters, ranging from 2.64 to 2.92. A higher debt-to-equity ratio indicates that the company is relying more on debt financing relative to equity, which can be a sign of higher financial risk.

The trend shows that the company's debt-to-equity ratio has generally been on the higher side, suggesting that Deluxe Corp. has been carrying a significant amount of debt compared to its equity levels. This may indicate that the company has been utilizing debt as a financing strategy, potentially to fund operations, investments, or acquisitions.

It is important for investors and stakeholders to closely monitor these ratios, as a consistently high debt-to-equity ratio could indicate potential financial distress or constraints in the company's ability to manage its debt obligations. Additionally, it may also impact the company's creditworthiness and overall financial health in the long term.