ManpowerGroup Inc (MAN)

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	990,500	—	—	—	959,900	—	—	—	565,700	—	—	—	1,103,500	—	—	—	1,012,400	—	—	—
Total stockholders’ equity	US$ in thousands	2,223,300	2,402,700	2,439,200	2,498,400	2,447,300	2,406,100	2,435,200	2,545,500	2,521,700	2,473,400	2,387,100	2,366,300	2,441,000	2,588,700	2,526,000	2,620,200	2,743,000	2,698,100	2,632,500	2,575,600
Debt-to-capital ratio		0.31	0.00	0.00	0.00	0.28	0.00	0.00	0.00	0.18	0.00	0.00	0.00	0.31	0.00	0.00	0.00	0.27	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $990,500K ÷ ($990,500K + $2,223,300K)
= 0.31

ManpowerGroup's debt-to-capital ratio has fluctuated over the past eight quarters, ranging from 0.27 to 0.37. The trend shows some variability but generally indicates that the company's level of debt relative to its total capital has been relatively stable. The most recent quarter, Q4 2023, reflects a slightly higher ratio of 0.31 compared to the previous two quarters, which were at 0.29.

Overall, the debt-to-capital ratio suggests that ManpowerGroup relies on a mix of debt and equity to finance its operations and investments, with a significant portion of its capital structure being funded by debt. It is important to monitor this ratio over time to assess the company's financial leverage and ability to manage its debt obligations effectively.