ICU Medical Inc (ICUI)

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	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-equity ratio		0.74	0.76	0.76	0.77	0.78	0.81	0.78	0.75	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-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,577,770K ÷ $2,123,410K
= 0.74

The debt-to-equity ratio of ICU Medical, Inc. has been relatively stable over the past eight quarters, ranging from 0.76 to 0.82. This ratio indicates that the company relies more on debt financing compared to equity. The downward trend from Q2 2022 to Q4 2023 suggests some improvement in the company's leverage position, as debt levels decreased relative to equity during this period. However, the ratio fluctuated within a narrow range, indicating a consistent level of debt relative to equity. It is important for investors and stakeholders to monitor this ratio to assess the company's financial risk and leverage position over time.