N-Able Inc (NABL)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-term debt	US$ in thousands	331,509	333,488	335,379
Total stockholders’ equity	US$ in thousands	711,360	642,071	618,355
Debt-to-capital ratio		0.32	0.34	0.35

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $331,509K ÷ ($331,509K + $711,360K)
= 0.32

The debt-to-capital ratio of N-Able Inc has shown a slight decrease over the past three years, dropping from 0.35 in 2021 to 0.34 in 2022, and further to 0.32 in 2023. This indicates that the company has been able to reduce its reliance on debt financing relative to its total capital structure. A lower debt-to-capital ratio suggests a healthier financial position, as it indicates a lower level of financial risk associated with debt obligations. N-Able Inc's decreasing trend in this ratio over the years reflects a positive financial management strategy aimed at optimizing its capital structure and improving its financial stability. Overall, the decreasing trend in the debt-to-capital ratio demonstrates N-Able Inc's efforts to strengthen its financial position and reduce its financial risk exposure through prudent debt management practices.