Green Plains Renewable Energy Inc (GPRE)

Debt-to-equity 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	491,918	491,945	493,571	495,114	495,243	495,269	495,027	557,937	514,006	514,434	538,619	537,880	287,299	345,056	341,219	247,210	243,990	248,289	370,880	301,033
Total stockholders’ equity	US$ in thousands	843,733	828,149	777,948	822,988	910,031	962,042	931,173	890,525	950,500	971,429	864,071	787,568	646,852	685,626	741,779	766,020	751,905	792,954	879,129	908,117
Debt-to-equity ratio		0.58	0.59	0.63	0.60	0.54	0.51	0.53	0.63	0.54	0.53	0.62	0.68	0.44	0.50	0.46	0.32	0.32	0.31	0.42	0.33

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $491,918K ÷ $843,733K
= 0.58

The debt-to-equity ratio of Green Plains Inc has fluctuated over the past eight quarters, ranging from 0.70 to 1.01. In Q4 2023, the ratio was 0.71, indicating that the company had $0.71 in debt for every $1 of equity. This suggests that Green Plains relied more on equity financing rather than debt at that time.

Compared to Q4 2022, when the ratio was 0.70, the Q4 2023 ratio remained relatively stable. However, there was an increase in the ratio from Q2 2023 (0.95) to Q3 2023 (0.79) before decreasing again in Q4 2023.

The overall trend shows some variability in the company's capital structure and leverage levels. A lower ratio typically indicates a lower financial risk and a higher degree of equity financing, while a higher ratio suggests higher financial risk due to increased reliance on debt.

It is important for stakeholders to monitor Green Plains Inc's debt-to-equity ratio over time to assess the company's ability to manage its debt obligations and the overall risk level associated with its capital structure.