Graham Holdings Co (GHC)

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 745,082 739,806 565,564 568,101 570,547 568,534 511,574 523,102 525,752 511,635 506,079 506,091 506,103 509,282 505,672 430,317 430,650 420,535 497,094 500,238
Total stockholders’ equity US$ in thousands 3,975,740 3,688,500 3,809,480 3,747,220 3,731,380 4,259,710 4,308,690 4,460,160 4,399,580 3,963,840 3,968,090 3,857,620 3,759,300 3,239,810 3,206,670 3,206,060 3,319,240 3,052,010 3,032,810 2,993,600
Debt-to-capital ratio 0.16 0.17 0.13 0.13 0.13 0.12 0.11 0.10 0.11 0.11 0.11 0.12 0.12 0.14 0.14 0.12 0.11 0.12 0.14 0.14

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $745,082K ÷ ($745,082K + $3,975,740K)
= 0.16

The debt-to-capital ratio of Graham Holdings Co. has remained relatively stable and low over the past eight quarters, ranging between 0.12 and 0.17. This indicates that the company has maintained a conservative approach towards utilizing debt in its capital structure. A low debt-to-capital ratio suggests that Graham Holdings Co. relies more on equity financing rather than debt financing to fund its operations and growth initiatives. Overall, the company's consistent low debt-to-capital ratio reflects a sound financial position with manageable debt levels relative to its total capital.