Knife River Corporation (KNF)

Debt-to-capital ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023
Long-term debt	US$ in thousands	674,577	675,649	832,047	359
Total stockholders’ equity	US$ in thousands	1,266,010	1,243,020	1,094,850	974,769
Debt-to-capital ratio		0.35	0.35	0.43	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $674,577K ÷ ($674,577K + $1,266,010K)
= 0.35

Knife River Corporation's debt-to-capital ratio has exhibited some fluctuations over the past four quarters. In December 2023 and September 2023, the ratio remained consistent at 0.35, indicating that 35% of the company's capital structure was financed by debt. However, in June 2023, the ratio increased to 0.43, suggesting a higher level of debt financing relative to capital. Notably, in March 2023, the ratio dropped to 0.00, signifying that the company had either no debt or a negligible amount in relation to its capital during that period.

Overall, the trend in Knife River Corporation's debt-to-capital ratio indicates varying degrees of reliance on debt to fund its operations and growth initiatives. It is important for stakeholders to closely monitor these fluctuations to assess the company's financial risk, leverage levels, and capital structure stability.