Masimo Corporation (MASI)

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	727,900	871,700	941,600	0	—
Total stockholders’ equity	US$ in thousands	1,051,900	1,364,800	1,338,900	1,550,200	1,407,640
Debt-to-capital ratio		0.41	0.39	0.41	0.00	0.00

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $727,900K ÷ ($727,900K + $1,051,900K)
= 0.41

Masimo Corporation's debt-to-capital ratio has been relatively low and stable over the past few years, standing at 0.00 in both 2020 and 2021. However, there has been a slight increase in this ratio in 2022, reaching 0.41, and maintaining at the same level in 2024. This indicates that Masimo has started to utilize debt as a part of its capital structure, with 41% of its capital being financed by debt in 2022 and 2024. It is essential to closely monitor this trend to ensure that the company's debt levels remain at a manageable level and do not pose a significant risk to its financial health in the future.