Deluxe Corporation (DLX)

Financial leverage 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
Total assets	US$ in thousands	3,080,620	2,884,670	2,923,020	2,940,910	3,076,520	2,957,320	2,940,390	2,954,310	3,074,380	3,006,190	3,017,480	1,893,250	1,842,180	2,007,180	2,060,080	2,044,540	1,943,310	1,888,960	2,314,040	2,322,410
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
Financial leverage ratio		5.10	4.82	4.77	4.94	5.10	4.92	4.93	5.11	5.35	5.39	5.47	3.39	3.41	3.93	4.25	4.31	3.40	3.59	2.59	2.59

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $3,080,620K ÷ $604,094K
= 5.10

The financial leverage ratio of Deluxe Corp. has shown some fluctuations over the past eight quarters. The ratio ranged from a low of 4.77 in Q2 2023 to a high of 5.11 in Q1 2022. Generally, the company's financial leverage ratio has been relatively stable between 4.77 and 5.11.

A financial leverage ratio of 5.10 in both Q4 2023 and Q4 2022 indicates that the company's debt levels are 5.10 times its equity. This suggests that Deluxe Corp. relies more heavily on debt to finance its operations compared to equity.

The fluctuations in the financial leverage ratio may indicate changes in the company's capital structure or debt levels over time. It is essential for investors and stakeholders to monitor these changes closely to assess the company's risk profile and financial health.