IDACORP Inc (IDA)

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	2,775,790	2,826,150	2,482,350	2,483,050	2,194,140	2,071,400	2,075,700	2,050,630	2,000,640	2,000,580	2,000,530	2,000,470	2,000,410	2,000,360	2,000,460	1,837,010	1,736,660	1,836,400	1,835,520	1,835,160
Total stockholders’ equity	US$ in thousands	2,907,570	2,920,890	2,853,760	2,823,060	2,807,240	2,778,300	2,706,810	2,677,510	2,668,440	2,670,610	2,606,410	2,569,420	2,559,980	2,565,990	2,495,800	2,467,380	2,464,630	2,464,120	2,403,800	2,380,240
Debt-to-equity ratio		0.95	0.97	0.87	0.88	0.78	0.75	0.77	0.77	0.75	0.75	0.77	0.78	0.78	0.78	0.80	0.74	0.70	0.75	0.76	0.77

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $2,775,790K ÷ $2,907,570K
= 0.95

The debt-to-equity ratio of Idacorp, Inc. has shown variability over the past eight quarters. In Q4 2022, the ratio was 0.78, which increased to 0.87 in Q2 2023 before further rising to 0.97 in Q4 2023. This suggests an increasing reliance on debt compared to equity in the company's capital structure. While a higher debt-to-equity ratio can indicate potential financial risk due to increased debt obligations, it could also imply strategic leveraging for growth and investment opportunities. It would be prudent for stakeholders to closely monitor how this trend in the debt-to-equity ratio unfolds in order to assess the company's financial health and risk management strategies.