Evergy Inc. Common Stock (EVRG)

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	11,053,300	9,297,600	10,097,100	10,097,200	9,905,700	9,197,200	9,196,700	9,247,100	9,297,900	9,297,300	9,297,300	9,090,600	9,190,900	—	—	—	8,746,700	8,749,200	7,122,500	7,125,900
Total stockholders’ equity	US$ in thousands	9,663,100	9,749,000	9,534,900	9,489,000	9,483,700	9,609,000	9,307,300	9,237,100	9,244,400	9,317,800	8,986,000	8,806,300	8,733,400	8,802,100	8,547,800	8,529,200	8,571,900	8,619,300	8,883,100	9,422,900
Debt-to-capital ratio		0.53	0.49	0.51	0.52	0.51	0.49	0.50	0.50	0.50	0.50	0.51	0.51	0.51	0.00	0.00	0.00	0.51	0.50	0.45	0.43

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 gradual increase from 0.55 in Q3 2022 to 0.58 in Q4 2023. This indicates that the company's reliance on debt relative to its total capital has been on the rise over the past eight quarters. The ratio has generally fluctuated within a narrow range of 0.55 to 0.58 during this period, suggesting a relatively stable capital structure. However, management should continue to monitor this ratio closely to ensure that the company's debt levels remain sustainable and in line with its financial strategy.