Martin Marietta Materials Inc (MLM)

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	3,945,600	3,944,700	4,343,100	4,342,000	4,340,900	4,339,900	5,044,300	5,102,300	5,100,800	5,099,400	2,627,200	2,626,500	2,625,800	2,625,200	2,624,500	2,623,900	2,433,600	2,732,820	2,732,020	2,801,230
Total stockholders’ equity	US$ in thousands	8,033,200	7,802,500	7,421,100	7,175,000	7,170,500	6,935,700	6,770,000	6,428,900	6,535,300	6,355,900	6,125,900	5,923,900	5,890,700	5,756,400	5,491,100	5,296,900	5,350,800	5,301,970	5,094,850	4,972,470
Debt-to-equity ratio		0.49	0.51	0.59	0.61	0.61	0.63	0.75	0.79	0.78	0.80	0.43	0.44	0.45	0.46	0.48	0.50	0.45	0.52	0.54	0.56

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $3,945,600K ÷ $8,033,200K
= 0.49

The debt-to-equity ratio of Martin Marietta Materials, Inc. has shown a declining trend over the past four quarters. In Q4 2023, the ratio stood at 0.54, which indicates that the company had $0.54 in debt for every dollar of equity. This represents a reduction from the previous quarter, where the ratio was 0.56.

The decreasing trend in the debt-to-equity ratio suggests that Martin Marietta may be reducing its reliance on debt financing and moving towards a more equity-based capital structure. This can be viewed positively by investors and creditors as lower debt levels generally signify lower financial risk and potentially greater financial stability for the company.

Overall, the decreasing trend in the debt-to-equity ratio of Martin Marietta Materials, Inc. over the past four quarters indicates a potential improvement in the company's financial leverage and capital structure.