Edwards Lifesciences Corp (EW)

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	597,000	596,800	596,700	596,500	596,300	596,200	596,000	595,900	595,700	595,500	595,400	595,200	595,000	594,900	594,700	594,600	594,400	594,200	594,100	593,900
Total stockholders’ equity	US$ in thousands	6,650,000	6,657,500	6,375,700	5,978,000	5,806,700	6,217,800	5,943,600	5,844,900	5,835,900	5,541,300	5,133,300	4,658,400	4,574,300	4,210,300	3,839,100	3,901,100	4,148,300	3,814,800	3,500,300	3,447,500
Debt-to-capital ratio		0.08	0.08	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.10	0.10	0.11	0.12	0.12	0.13	0.13	0.13	0.13	0.15	0.15

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $597,000K ÷ ($597,000K + $6,650,000K)
= 0.08

The debt-to-capital ratio of Edwards Lifesciences Corp has been relatively stable over the past eight quarters, ranging between 0.08 and 0.09. This indicates that the company has been maintaining a conservative level of debt relative to its total capital structure. A lower debt-to-capital ratio suggests a lower financial risk, as the company relies less on debt financing and has a greater proportion of equity in its capital structure.

The consistency in the debt-to-capital ratio over this period may indicate a deliberate financial strategy by Edwards Lifesciences Corp to manage its debt levels prudently and maintain financial stability. However, it is important to consider other factors such as interest rates, industry trends, and the company's growth prospects when assessing the overall health of the company's capital structure and financial position.