Myers Industries Inc (MYE)

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	31,989	33,987	52,986	62,784	93,962	97,961	103,956	92,450	90,945	111,339	57,833	70,928	37,582	37,501	37,420	37,338	77,176	77,080	76,983	76,887
Total stockholders’ equity	US$ in thousands	292,800	282,221	274,422	265,247	256,427	244,977	237,258	224,138	209,325	205,525	201,981	194,253	189,100	187,598	181,695	176,223	166,682	163,820	162,410	158,426
Debt-to-capital ratio		0.10	0.11	0.16	0.19	0.27	0.29	0.30	0.29	0.30	0.35	0.22	0.27	0.17	0.17	0.17	0.17	0.32	0.32	0.32	0.33

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $31,989K ÷ ($31,989K + $292,800K)
= 0.10

The debt-to-capital ratio of Myers Industries Inc. has been fluctuating over the past eight quarters, ranging from 0.19 to 0.32. A decreasing trend is observable from Q4 2022 to Q4 2023, indicating a potential improvement in the company's capital structure and reduced reliance on debt financing.

At 0.19 in Q4 2023, the company has a relatively low level of debt compared to its total capital, implying a higher proportion of equity in its capital structure. This suggests that Myers Industries Inc. may have lower financial risk as it is less leveraged and relies more on equity funding.

Overall, the decreasing trend in the debt-to-capital ratio over the quarters indicates a positive sign for investors and creditors, as it signifies a potential strengthening of the company's financial position and reduced risk of default.