Masimo Corporation (MASI)

Debt-to-equity 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	871,700	910,100	888,800	897,500	941,600	951,400	922,400	—	0	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	1,364,800	1,275,600	1,308,300	1,330,300	1,338,900	1,252,600	1,202,700	1,582,140	1,550,200	1,468,150	1,391,240	1,328,120	1,407,640	1,414,800	1,344,540	1,253,280	1,167,870	1,108,360	1,039,870	1,005,080
Debt-to-equity ratio		0.64	0.71	0.68	0.67	0.70	0.76	0.77	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $871,700K ÷ $1,364,800K
= 0.64

The debt-to-equity ratio of Masimo Corporation has shown a fluctuating trend over the period under consideration. As of December 31, 2023, the debt-to-equity ratio stands at 0.64, indicating that the company has a moderate level of debt relative to its equity. This ratio has decreased from the previous quarter, where it was 0.71, suggesting that the company may have reduced its debt levels or increased its equity during this period.

Looking back over the past few quarters, the debt-to-equity ratio has ranged from 0.64 to 0.77. It is notable that in the first quarter of 2022, the debt-to-equity ratio abruptly dropped to 0.00, indicating either a significant reduction in debt or a substantial increase in equity, or perhaps a combination of both. This anomaly suggests a significant event or adjustment in the company's financial structure during that period.

Overall, the trend in Masimo Corporation's debt-to-equity ratio indicates a relatively stable financial position with a reasonable balance between debt and equity. However, further analysis and comparison with industry benchmarks would provide a more comprehensive assessment of the company's leverage and financial risk profile.