Masco Corporation (MAS)
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 | 2,945,000 | 2,946,000 | 2,946,000 | 2,946,000 | 2,946,000 | 2,946,000 | 2,946,000 | 2,946,000 | 2,949,000 | 2,950,000 | 2,950,000 | 2,955,000 | 2,792,000 | 2,787,000 | 2,372,000 | 2,771,000 | 2,771,000 | 2,771,000 | 2,771,000 | 2,771,000 |
| Total stockholders’ equity | US$ in thousands | -126,000 | -56,000 | -192,000 | -379,000 | -480,000 | -617,000 | -742,000 | -371,000 | -179,000 | -126,000 | -154,000 | -17,000 | 195,000 | 141,000 | -136,000 | -348,000 | -235,000 | -143,000 | -91,000 | -146,000 |
| Debt-to-capital ratio | 1.04 | 1.02 | 1.07 | 1.15 | 1.19 | 1.26 | 1.34 | 1.14 | 1.06 | 1.04 | 1.06 | 1.01 | 0.93 | 0.95 | 1.06 | 1.14 | 1.09 | 1.05 | 1.03 | 1.06 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,945,000K ÷ ($2,945,000K + $-126,000K)
= 1.04
The debt-to-capital ratio of Masco Corp. has exhibited some fluctuation over the past eight quarters. The ratio was relatively stable around the 1.1 mark in the first half of 2022, but began to decline in the second half of 2022. The ratio decreased from 1.18 in Q4 2022 to 1.02 in Q3 2023 before slightly increasing to 1.04 in Q4 2023. This indicates a slight improvement in the company's capital structure as a lower ratio suggests less reliance on debt to finance its operations. However, it is worth noting that Masco Corp. still maintains a relatively high debt-to-capital ratio, indicating a significant proportion of the company's capital structure is financed through debt. It may be prudent for investors and stakeholders to keep a close eye on future developments in Masco Corp.'s debt management strategies.
Peer comparison
Dec 31, 2023