Jabil Circuit Inc (JBL)

Debt-to-equity ratio

		Feb 29, 2024	Nov 30, 2023	Aug 31, 2023	May 31, 2023	Feb 28, 2023	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021	Nov 30, 2020	Aug 31, 2020	May 31, 2020	Feb 29, 2020	Nov 30, 2019	Aug 31, 2019	May 31, 2019
Long-term debt	US$ in thousands	2,878,000	2,876,000	2,875,000	2,874,000	2,577,000	2,576,000	2,575,000	2,874,000	2,380,000	2,379,000	2,878,000	2,876,600	2,679,820	2,679,000	2,678,000	2,087,590	2,086,360	2,115,720	2,121,280	2,476,840
Total stockholders’ equity	US$ in thousands	2,658,000	2,535,000	2,866,000	2,736,000	2,673,000	2,529,000	2,451,000	2,356,000	2,337,000	2,206,000	2,136,000	2,138,010	2,089,160	1,979,370	1,811,000	1,632,300	1,746,830	1,835,690	1,887,440	1,854,970
Debt-to-equity ratio		1.08	1.13	1.00	1.05	0.96	1.02	1.05	1.22	1.02	1.08	1.35	1.35	1.28	1.35	1.48	1.28	1.19	1.15	1.12	1.34

February 29, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $2,878,000K ÷ $2,658,000K
= 1.08

The debt-to-equity ratio of Jabil Circuit Inc has fluctuated over the past few quarters, indicating variations in the company's capital structure. It stood at 1.08 as of February 29, 2024, showing that the company had slightly more debt than equity at that point in time.

Looking at the trend, the ratio has shown some volatility, with peaks observed in August 2021, May 2021, November 2020, and May 2020, where the ratios were particularly high, indicating higher reliance on debt for financing compared to equity during those periods.

Conversely, the ratio was at its lowest in November 2019, indicating a more balanced mix of debt and equity in the capital structure at that time.

Overall, the fluctuations in the debt-to-equity ratio suggest that Jabil Circuit Inc has been actively managing its capital structure, periodically adjusting the mix of debt and equity to meet its financial obligations and growth objectives.