MSA Safety (MSA)

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	575,170	715,814	787,527	837,114	565,445	597,844	615,778	591,393	597,651	592,742	314,587	340,428	287,157	321,694	314,500	351,592	328,394	352,073	378,380	357,304
Total stockholders’ equity	US$ in thousands	966,802	868,726	831,131	769,746	923,741	842,415	838,070	860,907	834,388	824,177	840,419	814,676	839,201	772,465	741,510	712,596	725,800	702,067	685,054	657,361
Debt-to-capital ratio		0.37	0.45	0.49	0.52	0.38	0.42	0.42	0.41	0.42	0.42	0.27	0.29	0.25	0.29	0.30	0.33	0.31	0.33	0.36	0.35

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $575,170K ÷ ($575,170K + $966,802K)
= 0.37

The debt-to-capital ratio for MSA Safety Inc has displayed some variability over the past eight quarters. The ratio has ranged from a low of 0.38 in Q4 2022 and Q4 2023 to a high of 0.53 in Q1 2023. Overall, there appears to be some fluctuation in MSA Safety Inc's leverage levels, which may indicate changes in their capital structure and debt management strategies during the period under review. It is important to monitor this ratio to assess the company's financial risk and ability to meet its debt obligations over time.