IPG Photonics Corporation (IPGP)

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	—	—	—	15,734	0	0	0	15,734	16,031	16,328	32,225	33,193	34,157	35,117	36,071	37,022	37,968	38,909	39,846	40,779
Total stockholders’ equity	US$ in thousands	2,415,380	2,383,950	2,398,550	2,338,520	2,385,360	2,580,510	2,639,220	2,707,250	2,746,580	2,739,350	2,704,920	2,639,500	2,592,820	2,470,210	2,436,350	2,355,070	2,401,730	2,380,110	2,366,650	2,267,840
Debt-to-capital ratio		0.00	0.00	0.00	0.01	0.00	0.00	0.00	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.02	0.02	0.02	0.02	0.02

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $2,415,380K)
= 0.00

The debt-to-capital ratio of IPG Photonics Corp has been consistently low, remaining at 0.01 or lower for the past eight quarters, except for a slight increase to 0.01 in Q1 2023. This indicates that the company relies minimally on debt to finance its operations and growth initiatives, preferring to finance its activities through equity capital. A low debt-to-capital ratio suggests a lower financial risk for the company, as it has a stronger equity base compared to its debt levels. Overall, the stable and low debt-to-capital ratio of IPG Photonics Corp reflects a conservative approach to financial management and a relatively healthy balance sheet structure.