Enovis Corp (ENOV)
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 | 466,164 | 40,000 | 2,078,620 | 2,204,170 | 2,284,180 |
| Total stockholders’ equity | US$ in thousands | 3,418,390 | 3,448,080 | 4,617,380 | 3,543,390 | 3,441,430 |
| Debt-to-capital ratio | 0.12 | 0.01 | 0.31 | 0.38 | 0.40 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $466,164K ÷ ($466,164K + $3,418,390K)
= 0.12
The debt-to-capital ratio of Enovis Corp has shown fluctuating trends over the past five years.
As of December 31, 2023, the debt-to-capital ratio stands at 0.12, indicating that 12% of the company's capital structure is funded by debt. This represents a slight increase from the previous year's ratio of 0.07.
In 2021, the ratio experienced a significant decrease to 0.31 from 0.39 in 2020, implying that the company reduced its reliance on debt financing during that period. However, the ratio was notably higher compared to the ratios in 2019 and 2018, which were 0.40 and 0.39 respectively.
Enovis Corp's debt-to-capital ratio can be seen as showing a general downward trend since 2020, potentially indicating a strategic shift towards a less leveraged capital structure. It would be important to closely monitor future changes in this ratio to assess the company's ongoing management of its debt levels and financial risk.
Peer comparison
Dec 31, 2023