Consolidated Edison Inc (ED)

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	21,989,000	20,650,000	20,648,000	20,645,000	22,439,000	22,350,000	22,361,000	22,583,000	22,604,000	21,841,000	21,666,000	20,614,000	20,382,000	19,206,000	19,149,000	19,423,000	18,527,000	17,537,000	17,496,000	16,933,000
Total stockholders’ equity	US$ in thousands	21,158,000	21,078,000	20,805,000	20,843,000	20,687,000	20,748,000	20,387,000	20,378,000	20,037,000	20,037,000	19,743,000	19,033,000	18,847,000	18,494,000	18,225,000	18,261,000	18,022,000	17,959,000	17,709,000	17,369,000
Debt-to-capital ratio		0.51	0.49	0.50	0.50	0.52	0.52	0.52	0.53	0.53	0.52	0.52	0.52	0.52	0.51	0.51	0.52	0.51	0.49	0.50	0.49

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 eight quarters, fluctuating within a narrow range between 0.51 and 0.55. The Q4 2023 ratio of 0.54 indicates that 54% of the company's capital structure is financed through debt, while the remaining 46% is through equity. This suggests that Consolidated Edison has a moderate level of leverage in its capital structure, with a slightly higher reliance on debt financing compared to equity. The consistent trend of the debt-to-capital ratio over the quarters may indicate that the company is managing its debt levels prudently and maintaining a balanced capital structure. It is important for stakeholders to monitor this ratio to assess the company's financial health and risk exposure.