Duke Energy Corporation (DUK)

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	72,452,000	71,353,000	69,914,000	69,107,000	65,873,000	66,060,000	63,147,000	62,196,000	60,448,000	57,929,000	57,410,000	54,768,000	55,625,000	56,049,000	56,143,000	56,311,000	54,985,000	54,818,000	54,342,000	53,681,000
Total stockholders’ equity	US$ in thousands	49,112,000	49,006,000	48,333,000	49,260,000	49,322,000	50,345,000	49,720,000	49,446,000	49,296,000	49,307,000	48,132,000	48,186,000	47,964,000	46,006,000	45,484,000	46,921,000	46,822,000	46,438,000	45,213,000	45,030,000
Debt-to-capital ratio		0.60	0.59	0.59	0.58	0.57	0.57	0.56	0.56	0.55	0.54	0.54	0.53	0.54	0.55	0.55	0.55	0.54	0.54	0.55	0.54

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $72,452,000K ÷ ($72,452,000K + $49,112,000K)
= 0.60

The debt-to-capital ratio of Duke Energy Corp. has shown a consistent upward trend over the past eight quarters, increasing from 0.58 in Q1 2022 to 0.62 in Q4 2023. This indicates that the company's level of debt relative to its total capital has been gradually rising.

A debt-to-capital ratio of 0.62 means that debt represents 62% of the company's total capital structure, while the remaining 38% is represented by equity. This suggests that Duke Energy Corp. relies heavily on debt to finance its operations and investments.

The gradual increase in the debt-to-capital ratio may indicate that the company is taking on more debt to fund its expansion or capital expenditure projects. While moderate levels of debt can be beneficial for leverage and growth, a high debt-to-capital ratio can lead to increased financial risk and potential difficulties in meeting debt obligations in the future.

Overall, stakeholders and investors should closely monitor Duke Energy Corp.'s debt levels and assess the company's ability to manage and service its debt in a sustainable manner.