ICU Medical Inc (ICUI)

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	1,577,770	1,589,240	1,600,720	1,612,200	1,623,680	1,629,850	1,636,030	1,642,170	0	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	2,123,410	2,098,360	2,114,820	2,100,400	2,089,930	2,012,800	2,085,870	2,178,900	1,616,030	1,589,970	1,557,260	1,520,770	1,502,260	1,452,220	1,411,800	1,375,890	1,377,240	1,340,340	1,317,860	1,282,690
Debt-to-capital ratio		0.43	0.43	0.43	0.43	0.44	0.45	0.44	0.43	0.00	0.00	0.00	0.00	0.00	0.00	0.00	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)
= $1,577,770K ÷ ($1,577,770K + $2,123,410K)
= 0.43

The debt-to-capital ratio of ICU Medical, Inc. has been relatively stable over the past eight quarters, ranging between 0.43 and 0.45. This ratio indicates the proportion of the company's capital that is funded by debt. With values consistently around 0.44, the company appears to have a moderate level of debt relative to its total capital structure. It is important to note that a higher debt-to-capital ratio may signify higher financial risk, as debt obligations need to be met regardless of the company's financial performance. However, a consistent ratio over time may suggest that ICU Medical, Inc. has been managing its debt levels effectively without significant fluctuations. It would be necessary to compare this ratio with industry benchmarks to gain further insights into the company's leverage position.