Mesa Laboratories Inc (MLAB)

Debt-to-capital ratio

		Mar 31, 2024	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
Long-term debt	US$ in thousands	171,198	170,965	170,733	170,502	170,272	170,044	169,816	169,590	169,365	229,140	168,917	168,695	145,675	144,302	142,945	141,604	140,278	138,967	137,682	17,512
Total stockholders’ equity	US$ in thousands	145,393	402,961	387,759	387,719	393,480	387,205	374,236	380,431	393,801	396,329	399,417	399,003	406,227	412,795	392,412	382,234	220,013	235,260	230,246	119,047
Debt-to-capital ratio		0.54	0.30	0.31	0.31	0.30	0.31	0.31	0.31	0.30	0.37	0.30	0.30	0.26	0.26	0.27	0.27	0.39	0.37	0.37	0.13

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 exhibited fluctuations over the past five years, ranging from 0.13 to 0.54. As of March 31, 2024, the debt-to-capital ratio stands at 0.54, indicating that debt contributes to 54% of the company's capital structure.

There was a notable increase in the ratio from December 2021 to March 2022, where it reached 0.37, suggestive of a higher reliance on debt financing during that period. Subsequently, the ratio decreased to 0.26 by December 2022, only to rise again by March 2023 to 0.30.

From a historical perspective, the company has generally maintained a debt-to-capital ratio below 0.40, except for the recent peak in March 2024. This suggests that Mesa Laboratories Inc has managed its debt levels effectively within acceptable limits, although the recent increase in debt relative to capital warrants closer monitoring to assess potential implications for the company's financial risk and leverage position.