DTE Energy Company (DTE)

Debt-to-capital 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	19,546,000	19,123,000	19,221,000	19,368,000	17,978,000	18,846,000	18,255,000	18,249,000	17,378,000	17,222,000	22,909,000	20,432,000	19,439,000	18,660,000	17,997,000	17,398,000	16,606,000	12,708,000	12,418,000	11,624,000
Total stockholders’ equity	US$ in thousands	11,050,000	10,850,000	10,481,000	10,642,000	10,397,000	8,980,000	8,574,000	8,863,000	8,705,000	8,567,000	12,378,000	12,552,000	12,425,000	12,323,000	11,724,000	11,822,000	11,672,000	10,740,000	10,396,000	10,545,000
Debt-to-capital ratio		0.64	0.64	0.65	0.65	0.63	0.68	0.68	0.67	0.67	0.67	0.65	0.62	0.61	0.60	0.61	0.60	0.59	0.54	0.54	0.52

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $19,546,000K ÷ ($19,546,000K + $11,050,000K)
= 0.64

The debt-to-capital ratio of DTE Energy Co. has been relatively stable at around 0.65 for the past four quarters, indicating that the company's level of debt in relation to its total capital has remained consistent. This ratio suggests that DTE Energy Co. relies on debt to finance a significant portion of its operations and investments.

The slight decrease from the previous year's ratios of 0.69 and 0.68 in the second and first quarters of 2022, respectively, may indicate that the company has either reduced its debt levels or increased its capital base during the later quarters of 2022 and throughout 2023.

Overall, a debt-to-capital ratio of 0.65 signifies that DTE Energy Co. has a moderate level of financial leverage, and investors, creditors, and stakeholders should continue to monitor the company's ability to manage its debt obligations and maintain a healthy capital structure.