IDACORP Inc (IDA)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	2,775,790	2,194,140	2,000,640	2,000,410	1,736,660
Total stockholders’ equity	US$ in thousands	2,907,570	2,807,240	2,668,440	2,559,980	2,464,630
Debt-to-capital ratio		0.49	0.44	0.43	0.44	0.41

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,775,790K ÷ ($2,775,790K + $2,907,570K)
= 0.49

The debt-to-capital ratio of Idacorp, Inc. has shown a fluctuating trend over the past five years. The ratio stood at 0.43 in both 2019 and 2021, increased to 0.44 in 2020 and 2022, and further rose to 0.49 by the end of 2023.

This indicates that the company's reliance on debt as a source of financing relative to its total capital structure has been on an upward trajectory. A higher debt-to-capital ratio may imply increased financial risk and leverage for the company, as a larger portion of its capital is being funded through debt rather than equity.

It would be crucial for stakeholders to closely monitor this trend, as a significant increase in the debt-to-capital ratio could potentially impact the company's creditworthiness, financial flexibility, and overall financial health. Additionally, the company's ability to service its debt obligations and maintain a healthy balance between debt and equity financing should be carefully evaluated.