Ichor Holdings Ltd (ICHR)

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	241,183	272,942	284,701	291,459	293,218	294,977	296,736	283,495	285,253	158,810	157,630	159,576	191,522	193,467	195,413	172,359	169,304	169,250	183,008	184,954
Total stockholders’ equity	US$ in thousands	564,677	572,679	577,303	593,464	587,496	569,845	-91,578	-91,578	500,715	480,656	458,483	431,062	411,689	254,667	238,190	229,520	221,416	207,190	203,731	201,680
Debt-to-equity ratio		0.43	0.48	0.49	0.49	0.50	0.52	—	—	0.57	0.33	0.34	0.37	0.47	0.76	0.82	0.75	0.76	0.82	0.90	0.92

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $241,183K ÷ $564,677K
= 0.43

The debt-to-equity ratio of Ichor Holdings Ltd has shown some fluctuation over the past few quarters. It decreased from 0.92 as of September 30, 2019, to 0.33 as of September 30, 2021, indicating a reduction in financial leverage during this period. However, the ratio increased to 0.57 as of December 31, 2021, and has been oscillating between 0.43 and 0.52 in 2022 and 2023.

Overall, the trend suggests that the company has been effectively managing its debt levels relative to equity, although there was a notable increase in leverage in the latter part of 2021 and through 2022. This indicates a potential shift in the company's capital structure, which may warrant further investigation to understand the reasons behind these fluctuations and the associated risks or opportunities for stakeholders.