Evergy Inc. Common Stock (EVRG)

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	11,053,300	9,905,700	9,297,900	9,190,900	8,746,700
Total stockholders’ equity	US$ in thousands	9,663,100	9,483,700	9,244,400	8,733,400	8,571,900
Debt-to-capital ratio		0.53	0.51	0.50	0.51	0.51

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $11,053,300K ÷ ($11,053,300K + $9,663,100K)
= 0.53

The debt-to-capital ratio of Evergy Inc has shown a steady increase over the last five years, reaching 0.58 in 2023 from 0.54 in both 2020 and 2019. This indicates that the company's reliance on debt as a source of financing relative to its total capital has been growing. The trend suggests that Evergy Inc has been utilizing more debt in its capital structure over time. This could potentially increase the company's financial risk as higher debt levels may lead to increased interest costs and financial obligations. Monitoring this ratio closely is important to assess the company's financial stability and ability to meet its debt obligations in the future.