Alphabet Inc Class A (GOOGL)

Debt-to-equity ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	10,300,000	9,900,000	12,400,000	14,000,000	3,958,000
Total stockholders’ equity	US$ in thousands	283,379,000	256,144,000	251,635,000	222,544,000	201,442,000
Debt-to-equity ratio		0.04	0.04	0.05	0.06	0.02

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $10,300,000K ÷ $283,379,000K
= 0.04

The debt-to-equity ratio of Alphabet Inc has shown a relatively stable trend over the past five years. The ratio decreased from 0.06 in 2019 to 0.02 in 2019, indicating a lower level of financial leverage and a higher proportion of equity relative to debt in the company's capital structure. However, from 2020 to 2023, the ratio remained fairly consistent at around 0.06, suggesting that the company's reliance on debt financing has plateaued.

This stability in the debt-to-equity ratio indicates that Alphabet Inc has maintained a balanced mix of debt and equity in its capital structure, which can be seen as a positive sign for investors and creditors. It suggests that the company has been managing its debt levels prudently while also leveraging equity to support its operations and growth initiatives.

Overall, the trend in Alphabet Inc's debt-to-equity ratio reflects a judicious approach to capital structure management, with the company maintaining a relatively low level of debt relative to its equity position.