Illumina Inc (ILMN)

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	1,489,000	1,489,000	1,488,000	—	1,487,000	—	—	—	1,695,000	—	—	—	673,000	666,000	659,000	652,000	1,141,000	1,131,000	1,120,000	1,112,000
Total stockholders’ equity	US$ in thousands	5,745,000	5,898,000	6,555,000	6,693,000	6,599,000	6,731,000	10,444,000	10,895,000	10,740,000	10,593,000	5,180,000	4,922,000	4,694,000	4,700,000	4,563,000	4,635,000	4,613,000	4,439,000	4,332,000	3,985,000
Debt-to-capital ratio		0.21	0.20	0.19	0.00	0.18	0.00	0.00	0.00	0.14	0.00	0.00	0.00	0.13	0.12	0.13	0.12	0.20	0.20	0.21	0.22

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,489,000K ÷ ($1,489,000K + $5,745,000K)
= 0.21

The debt-to-capital ratio of Illumina Inc has fluctuated over the past eight quarters. It stood at 0.21 in Q4 2023, slightly higher than the previous quarter's ratio of 0.20. This indicates that Illumina's total debt represented 21% of its total capital in Q4 2023.

Comparing to the previous years, Q4 2022 had a higher ratio of 0.29, suggesting that Illumina increased its debt relative to its capital at that time. However, Q2 and Q1 2022 showed lower ratios of 0.14, indicating a comparatively lower level of debt in relation to capital.

Overall, the trend in the debt-to-capital ratio of Illumina Inc has shown fluctuations, with Q4 2022 standing out as a period of relatively higher leverage. It is important for stakeholders to monitor this ratio to assess the company's debt management and financial risk profile.