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

Company name
Symbol
Debt-to-capital ratio
Masco Corporation
MAS
1.04
Sunrun Inc
RUN
0.67