Laboratory Corporation of America Holdings (LH)
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 | 4,054,700 | 4,427,600 | 5,042,400 | 5,052,300 | 5,038,800 | 5,334,300 | 5,360,300 | 5,383,300 | 5,416,500 | 5,417,200 | 5,422,600 | 4,920,900 | 5,419,000 | 5,417,300 | 5,416,600 | 5,790,200 | 5,789,800 | 6,101,300 | 6,135,000 | 5,495,600 |
| Total stockholders’ equity | US$ in thousands | 7,875,000 | 7,873,100 | 8,785,000 | 10,341,500 | 10,096,600 | 10,092,200 | 10,400,700 | 10,721,100 | 10,273,400 | 10,601,400 | 10,322,000 | 10,098,400 | 9,436,600 | 8,239,100 | 7,352,700 | 7,020,100 | 7,643,900 | 7,020,100 | 7,144,400 | 7,111,300 |
| Debt-to-capital ratio | 0.34 | 0.36 | 0.36 | 0.33 | 0.33 | 0.35 | 0.34 | 0.33 | 0.35 | 0.34 | 0.34 | 0.33 | 0.36 | 0.40 | 0.42 | 0.45 | 0.43 | 0.46 | 0.46 | 0.44 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $4,054,700K ÷ ($4,054,700K + $7,875,000K)
= 0.34
The debt-to-capital ratio of Laboratory Corp. Of America Holdings has shown some fluctuations over the past eight quarters. The ratio ranged from 0.34 to 0.41 during this period, indicating the proportion of the company's capital structure that is funded by debt.
The trend indicates that the company has been managing its debt levels relative to its capital base effectively, with the ratio generally staying within a relatively stable range. The slight fluctuations may suggest varying levels of debt or capital restructuring activities during this period.
Overall, a debt-to-capital ratio of around 0.34 to 0.41 suggests that Laboratory Corp. Of America Holdings relies moderately on debt to finance its operations, while the majority of its capital structure is funded by equity. Investors and analysts typically consider this range to be reasonable and indicative of a balanced capital structure.
Peer comparison
Dec 31, 2023