The Ensign Group Inc (ENSG)
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 | 145,497 | 146,453 | 147,401 | 148,339 | 149,269 | 150,191 | — | — | 152,883 | — | — | — | — | — | — | — | — | — | 268,179 | 240,660 |
| Total stockholders’ equity | US$ in thousands | 1,491,860 | 1,459,750 | 1,387,780 | 1,318,170 | 1,247,330 | 1,180,060 | 1,120,170 | 1,071,590 | 1,020,770 | 979,200 | 928,593 | 876,047 | 818,077 | 764,755 | 715,997 | 675,236 | 654,197 | 686,259 | 662,052 | 632,705 |
| Debt-to-capital ratio | 0.09 | 0.09 | 0.10 | 0.10 | 0.11 | 0.11 | 0.00 | 0.00 | 0.13 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.29 | 0.28 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $145,497K ÷ ($145,497K + $1,491,860K)
= 0.09
Ensign Group Inc's debt-to-capital ratio has shown a decreasing trend over the past eight quarters. The ratio stood at 0.09 in Q4 2023 and Q3 2023, showing consistency at this level. This indicates that the company's debt accounts for 9% of its total capital in these periods. Further back, in Q2 2023 and Q1 2023, the ratio increased slightly to 0.10, but remained relatively stable.
Looking back over the past two years, there has been a gradual decline in the debt-to-capital ratio from 0.13 in Q1 2022 to 0.09 in Q4 2023. This downward trend suggests that Ensign Group Inc has been effectively managing its debt levels in relation to its capital base.
Overall, the consistent and decreasing debt-to-capital ratio reflects positively on Ensign Group Inc's financial health and risk management strategies. It indicates that the company has been successful in maintaining a healthy balance between debt and equity in its capital structure.
Peer comparison
Dec 31, 2023