Consolidated Edison Inc (ED)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	21,989,000	22,439,000	22,604,000	20,382,000	18,527,000
Total stockholders’ equity	US$ in thousands	21,158,000	20,687,000	20,037,000	18,847,000	18,022,000
Debt-to-capital ratio		0.51	0.52	0.53	0.52	0.51

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $21,989,000K ÷ ($21,989,000K + $21,158,000K)
= 0.51

Consolidated Edison, Inc.'s debt-to-capital ratio has been relatively stable over the past five years, ranging from 0.54 to 0.56. This ratio indicates the proportion of the company's capital structure funded by debt, with values closer to 1 implying higher debt levels relative to total capital.

The consistent range of 0.54 to 0.56 suggests that Consolidated Edison has maintained a balanced mix of debt and equity financing over the years. A stable debt-to-capital ratio can be a sign of financial prudence and effective capital structure management.

Overall, based on the data presented, Consolidated Edison, Inc. appears to have a moderate level of debt in its capital structure, which has remained relatively steady in recent years.