Hyatt Hotels Corporation (H)

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	2,305,000	3,049,000	3,053,000	2,454,000	2,453,000	3,150,000	3,798,000	3,815,000	3,968,000	2,978,000	2,986,000	2,982,000	2,984,000	2,981,000	2,491,000	1,602,000	1,612,000	1,612,000	1,621,000	1,621,000
Total stockholders’ equity	US$ in thousands	3,564,000	3,586,000	3,682,000	3,693,000	3,699,000	3,443,000	3,609,000	3,521,000	3,563,000	3,586,000	2,906,000	2,885,000	3,211,000	3,350,000	3,490,000	3,705,000	3,962,000	3,756,000	3,642,000	3,622,000
Debt-to-capital ratio		0.39	0.46	0.45	0.40	0.40	0.48	0.51	0.52	0.53	0.45	0.51	0.51	0.48	0.47	0.42	0.30	0.29	0.30	0.31	0.31

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,305,000K ÷ ($2,305,000K + $3,564,000K)
= 0.39

Based on the data provided for Hyatt Hotels Corporation's debt-to-capital ratio over the last eight quarters, it is observed that the ratio has remained relatively stable at around 0.46 in Q1 to Q4 of 2023. This indicates that the company typically finances approximately 46% of its capital through debt, while the remaining 54% is financed through equity.

Comparing to the previous quarters, there was a slight increase in the debt-to-capital ratio from Q3 to Q4 of 2022, where it went up from 0.51 to 0.52, before stabilizing at 0.46 in the following quarters of 2023.

Overall, the consistent debt-to-capital ratio suggests that Hyatt Hotels Corporation has maintained a balanced capital structure in the recent quarters, with a significant portion of its capital being funded by debt. It is important for investors and stakeholders to monitor this ratio over time to assess the company's leverage and financial risk.