L3Harris Technologies Inc (LHX)

Debt-to-capital ratio

		Jun 30, 2024	Mar 31, 2024	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	Sep 30, 2019	Jun 30, 2019
Long-term debt	US$ in thousands	10,533,000	11,140,000	11,160,000	11,140,000	7,867,000	8,220,000	6,225,000	7,030,000	7,044,000	7,057,000	7,048,000	7,064,000	7,072,000	7,078,000	6,943,000	6,261,000	6,273,000	6,294,000	6,307,000	2,763,000
Total stockholders’ equity	US$ in thousands	18,840,000	18,666,000	18,765,000	18,616,000	18,428,000	18,306,000	18,523,000	18,337,000	19,086,000	19,260,000	19,213,000	19,484,000	19,863,000	20,367,000	20,724,000	21,313,000	22,102,000	21,898,000	22,773,000	3,363,000
Debt-to-capital ratio		0.36	0.37	0.37	0.37	0.30	0.31	0.25	0.28	0.27	0.27	0.27	0.27	0.26	0.26	0.25	0.23	0.22	0.22	0.22	0.45

June 30, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $10,533,000K ÷ ($10,533,000K + $18,840,000K)
= 0.36

The debt-to-capital ratio of L3Harris Technologies Inc has shown some variability over the past few quarters. The ratio was relatively stable around 0.27 to 0.31 from the first quarter of 2022 to the first quarter of 2023, indicating a moderate level of debt relative to the company's capital structure during that period.

However, there was a significant increase in the ratio in the second quarter of 2023, reaching 0.37, followed by a fluctuation between 0.30 and 0.37 in the subsequent quarters up to the second quarter of 2024. This suggests a higher proportion of debt in the company's capital structure during this period.

The lower debt-to-capital ratio seen in the earlier quarters (e.g., 0.22 in the third quarter of 2019 and 0.25 in the first quarter of 2021) indicates a lower level of debt relative to the capital structure during those periods.

Overall, the trend in L3Harris Technologies Inc's debt-to-capital ratio reflects fluctuations in its debt levels compared to its total capital over the analyzed quarters. Investors and analysts may want to further investigate the reasons behind the changes in the ratio to assess the company's leverage and debt management strategies.