Marathon Digital Holdings Inc (MARA)
Debt-to-equity ratio
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 326,083 | 325,654 | 325,266 | 734,231 | 733,260 | 782,171 | 781,182 | 730,348 | 729,377 | 728,406 | — | — | 63 | 63 | 63 | 63 | 999 | 999 | — | — |
| Total stockholders’ equity | US$ in thousands | 2,476,890 | 1,615,920 | 1,019,950 | 594,496 | 545,869 | 385,941 | 625,102 | 659,448 | 776,394 | 682,100 | 660,416 | 580,519 | 683,723 | 311,745 | 36,287 | 9,658 | 3,170 | 3,648 | 3,489 | 1,723 |
| Debt-to-equity ratio | 0.13 | 0.20 | 0.32 | 1.24 | 1.34 | 2.03 | 1.25 | 1.11 | 0.94 | 1.07 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.32 | 0.27 | 0.00 | 0.00 |
March 31, 2024 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $326,083K ÷ $2,476,890K
= 0.13
The debt-to-equity ratio of Marathon Digital Holdings Inc has exhibited fluctuations over the periods provided. The ratio indicates the proportion of debt the company uses to finance its operations compared to its equity. A lower ratio suggests that the company relies less on debt financing and has a stronger equity position to support its operations.
Looking at the data, the company's debt-to-equity ratio was relatively low at 0.13 as of March 31, 2024, indicating a conservative debt usage compared to equity. However, this ratio had increased to 1.34 as of March 31, 2023, indicating a significant shift towards higher debt utilization relative to equity.
The trend prior to March 31, 2023, showed fluctuating debt-to-equity ratios ranging from 0.20 to 1.34, indicating varying levels of reliance on debt financing over equity during those periods.
It is noteworthy that the company seemed to have a shift in its financing strategy between September 30, 2022, and June 30, 2023, with the ratio increasing substantially from 1.25 to 1.24. Additionally, there were periods, such as from September 30, 2021, to March 31, 2022, where the company had no debt, resulting in a debt-to-equity ratio of 0.00.
Overall, fluctuations in the debt-to-equity ratio can reflect changes in the company's capital structure and financing decisions. Investors and analysts may consider these variations to assess the company's financial risk, leverage, and growth strategies.
Peer comparison
Mar 31, 2024