Glaukos Corp (GKOS)

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	282,773	282,430	282,087	281,743	281,400	281,056	280,713	280,370	280,026	279,683	—	—	189,416	186,676	183,999	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	461,766	477,659	488,811	508,514	530,005	548,554	562,477	597,564	587,151	601,049	584,325	589,774	667,449	661,563	662,424	641,299	673,272	190,116	187,805	185,489
Debt-to-capital ratio		0.38	0.37	0.37	0.36	0.35	0.34	0.33	0.32	0.32	0.32	0.00	0.00	0.22	0.22	0.22	0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $282,773K ÷ ($282,773K + $461,766K)
= 0.38

The debt-to-capital ratio for Glaukos Corporation has been gradually increasing over the past eight quarters, indicating a growing reliance on debt to finance its operations and investments relative to its overall capital structure.

The company's debt-to-capital ratio rose from 0.37 in Q1 2022 to 0.43 in Q4 2023, with a consistent upward trend observed in each sequential quarter. This suggests that Glaukos has been increasing its debt levels in proportion to its total capital, which may signify a higher level of financial leverage.

A higher debt-to-capital ratio can imply increased financial risk, as the company may have higher interest payments and obligations to meet. However, it can also indicate that the company is taking advantage of available debt financing to fund growth opportunities or acquisitions.

It would be important for stakeholders to monitor Glaukos Corporation's debt levels and assess the company's ability to manage its debt effectively, considering its impact on financial stability and potential future profitability.