MGP Ingredients Inc (MGPI)

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	280,849	310,277	318,704	223,219	29,510	226,251	227,764	229,449	35,266	36,068	36,870	37,476	38,271	40,363	40,463	40,561	40,658	40,929	42,096	42,587
Total stockholders’ equity	US$ in thousands	850,492	819,590	808,403	777,066	746,724	724,794	703,827	679,961	644,755	615,190	593,578	278,511	262,526	252,001	242,697	235,565	231,044	219,420	212,442	205,119
Debt-to-capital ratio		0.25	0.27	0.28	0.22	0.04	0.24	0.24	0.25	0.05	0.06	0.06	0.12	0.13	0.14	0.14	0.15	0.15	0.16	0.17	0.17

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $280,849K ÷ ($280,849K + $850,492K)
= 0.25

The debt-to-capital ratio of MGP Ingredients, Inc. has shown some fluctuation over the quarters analyzed. It ranged from 0.23 to 0.29 during the past eight quarters. The ratio indicates that, on average, around 25% to 29% of the company's capital structure is comprised of debt.

A decreasing trend in the debt-to-capital ratio from Q2 2023 to Q1 2023 could suggest that the company is reducing its reliance on debt financing, which may be seen as a positive signal by investors and creditors. Additionally, the ratio has stayed relatively stable around the 0.24 to 0.25 range in the recent quarters of Q1 2022 to Q3 2023, indicating a consistent level of debt relative to total capital.

Overall, further analysis would be necessary to understand the reasons behind these changes in the debt-to-capital ratio and to assess the company's financial health and risk profile in more depth.