Minerals Technologies Inc (MTX)
Debt-to-equity ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 911,100 | 928,100 | 936,200 | 933,200 | 824,300 |
| Total stockholders’ equity | US$ in thousands | 1,652,000 | 1,579,500 | 1,539,300 | 1,460,800 | 1,402,700 |
| Debt-to-equity ratio | 0.55 | 0.59 | 0.61 | 0.64 | 0.59 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $911,100K ÷ $1,652,000K
= 0.55
The debt-to-equity ratio of Minerals Technologies, Inc. has shown a fluctuating trend over the past five years. In 2023, the ratio decreased to 0.61 from 0.67 in 2022. This decline indicates a reduction in the company's reliance on debt in relation to equity. In the years 2021 and 2019, the debt-to-equity ratio remained relatively stable at 0.66, while in 2020, it was slightly lower at 0.64.
Overall, the downward trend in the debt-to-equity ratio suggests that Minerals Technologies, Inc. has been gradually improving its debt management and financial health by either reducing its debt levels or increasing its equity. However, it is essential to consider other factors such as the company's industry norms, overall financial strategy, and economic conditions to gain a more comprehensive understanding of its financial leverage position.
Peer comparison
Dec 31, 2023