Minerals Technologies Inc (MTX)
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 | 911,100 | 918,000 | 921,200 | 924,700 | 928,100 | 944,900 | 939,300 | 937,000 | 936,200 | 935,300 | 934,400 | 933,600 | 933,200 | 1,012,300 | 647,700 | 824,900 | 824,300 | 844,700 | 874,200 | 893,400 |
| Total stockholders’ equity | US$ in thousands | 1,652,000 | 1,589,100 | 1,626,500 | 1,622,800 | 1,579,500 | 1,502,000 | 1,543,400 | 1,562,000 | 1,539,300 | 1,506,300 | 1,499,700 | 1,464,000 | 1,460,800 | 1,438,100 | 1,406,500 | 1,379,800 | 1,402,700 | 1,402,700 | 1,390,900 | 1,393,500 |
| Debt-to-capital ratio | 0.36 | 0.37 | 0.36 | 0.36 | 0.37 | 0.39 | 0.38 | 0.37 | 0.38 | 0.38 | 0.38 | 0.39 | 0.39 | 0.41 | 0.32 | 0.37 | 0.37 | 0.38 | 0.39 | 0.39 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $911,100K ÷ ($911,100K + $1,652,000K)
= 0.36
Minerals Technologies, Inc.'s debt-to-capital ratio has shown relatively stable trends over the past eight quarters, ranging between 0.38 and 0.41. The ratio indicates that, on average, approximately 38% to 41% of the company's capital structure is financed through debt.
A decreasing trend in the debt-to-capital ratio would typically suggest a lower reliance on debt financing, potentially indicating improved financial stability and reduced financial risk. Conversely, an increasing trend could signal higher leverage and financial risk.
Overall, the consistent range of the debt-to-capital ratio for Minerals Technologies, Inc. implies a balanced capital structure with a moderate level of debt usage compared to equity. It would be important to consider industry benchmarks and the company's specific financial goals when interpreting the implications of this ratio.
Peer comparison
Dec 31, 2023