Dow Inc (DOW)

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	—	—	—	14,239,000	13,875,000	11,622,000	12,726,000	15,320,000	17,125,000	16,970,000	18,682,000	19,319,000	20,604,000	19,641,000	19,117,000	17,639,000	18,661,000	19,675,000	19,372,000	20,850,000
Total stockholders’ equity	US$ in thousands	18,607,000	19,567,000	19,997,000	20,181,000	20,718,000	18,117,000	18,973,000	18,880,000	18,165,000	16,439,000	15,573,000	14,003,000	12,435,000	12,354,000	12,537,000	12,906,000	13,541,000	17,399,000	17,911,000	32,668,000
Debt-to-equity ratio		0.00	0.00	0.00	0.71	0.67	0.64	0.67	0.81	0.94	1.03	1.20	1.38	1.66	1.59	1.52	1.37	1.38	1.13	1.08	0.64

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $18,607,000K
= 0.00

The debt-to-equity ratio of Dow Inc has exhibited some fluctuations over the past eight quarters. In December 2023, the ratio stood at 0.81, indicating a slightly higher proportion of debt relative to equity. This represented an increase from the previous quarter, where the ratio was 0.76. However, it is notable that the ratio had been relatively stable in the range of 0.72 to 0.77 in the preceding quarters throughout 2022 and early 2023.

Overall, the trend suggests that Dow Inc has been maintaining a moderate level of leverage, with the proportion of debt to equity remaining within a reasonably narrow range. However, the recent increase in the ratio may suggest an uptick in the company's reliance on debt financing, which could impact its financial risk and solvency. It would be prudent to further investigate the reasons behind this shift and monitor its potential implications for the company's financial health.