Mesa Laboratories Inc (MLAB)

Debt-to-capital ratio

		Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Long-term debt	US$ in thousands	171,198	170,272	169,365	145,675	140,278
Total stockholders’ equity	US$ in thousands	145,393	393,480	393,801	406,227	220,013
Debt-to-capital ratio		0.54	0.30	0.30	0.26	0.39

March 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $171,198K ÷ ($171,198K + $145,393K)
= 0.54

The debt-to-capital ratio of Mesa Laboratories Inc has shown some fluctuations over the past five years. As of March 31, 2024, the ratio stands at 0.54, indicating that debt accounts for 54% of the company's capital structure. This represents an increase from the previous year, where the ratio was 0.30.

Comparing to the trend over the last five years, the ratio was relatively stable at around 0.30 in 2023 and 2022, while it was slightly lower in 2021 at 0.26. The ratio peaked at 0.39 in 2020 before declining in the subsequent years.

The increasing trend in the debt-to-capital ratio in the current year suggests that Mesa Laboratories Inc may be relying more on debt to finance its operations or expansion activities. Investors and stakeholders may want to further investigate the reasons behind this shift in the company's capital structure and its implications for financial risk and stability.