ManpowerGroup Inc (MAN)

Debt-to-capital ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Long-term debt	US$ in thousands	929,400	990,500	959,900	565,700	1,103,500
Total stockholders’ equity	US$ in thousands	2,125,200	2,223,300	2,447,300	2,521,700	2,441,000
Debt-to-capital ratio		0.30	0.31	0.28	0.18	0.31

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $929,400K ÷ ($929,400K + $2,125,200K)
= 0.30

The debt-to-capital ratio of ManpowerGroup Inc has shown some fluctuation over the years. As of December 31, 2020, the ratio stood at 0.31, indicating that 31% of the company's capital was financed by debt. By the end of 2021, this ratio had decreased to 0.18, suggesting a reduced reliance on debt financing. However, in the following years, the ratio experienced some upward movement, reaching 0.28 at the end of 2022, 0.31 at the end of 2023, and then slightly declining to 0.30 by the end of 2024. Overall, the company's debt-to-capital ratio fluctuated within a moderate range, signaling a balanced approach to capital structure management.