Mattel Inc (MAT)

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	2,329,990	2,328,900	2,327,810	2,326,730	2,325,640	2,324,460	2,323,300	2,322,150	2,570,990	2,569,840	2,839,120	2,837,730	2,854,660	2,852,750	2,850,840	2,848,920	2,846,750	2,856,770	2,855,190	2,853,450
Total stockholders’ equity	US$ in thousands	2,149,210	2,035,470	1,962,370	1,937,660	2,056,270	1,967,460	1,728,050	1,618,070	1,568,850	1,313,680	527,719	490,565	610,144	419,803	106,100	179,772	508,564	463,756	426,195	523,375
Debt-to-capital ratio		0.52	0.53	0.54	0.55	0.53	0.54	0.57	0.59	0.62	0.66	0.84	0.85	0.82	0.87	0.96	0.94	0.85	0.86	0.87	0.85

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,329,990K ÷ ($2,329,990K + $2,149,210K)
= 0.52

The debt-to-capital ratio of Mattel Inc has fluctuated over the past few years, ranging from 0.52 to 0.96. The ratio indicates the proportion of the company's capital that is financed through debt. A higher ratio suggests a greater reliance on debt to fund operations and growth.

From December 2019 to March 2020, there was a notable increase in the debt-to-capital ratio, reaching 0.96 by March 2020. This sharp increase may indicate an aggressive borrowing strategy during that period.

Subsequently, the ratio fluctuated in a range between 0.52 and 0.66 until June 2021. However, there was a significant spike to 0.84 by September 2021, indicating a higher level of debt relative to capital.

The ratio continued to increase, reaching a peak of 0.96 by June 2022. This suggests a significant increase in debt compared to the company's capital during that period.

From September 2022 to December 2023, the ratio decreased gradually from 0.85 to 0.52. This downward trend may indicate a reduction in debt levels relative to capital or an increase in capital through equity financing.

Overall, the trend in Mattel Inc's debt-to-capital ratio demonstrates fluctuations in the company's capital structure and financing decisions over the analyzed period. It is important for investors and stakeholders to monitor this ratio to assess the company's financial risk and leverage levels.