N-Able Inc (NABL)

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
Long-term debt	US$ in thousands	331,509	331,980	332,450	333,007	333,488	333,959	334,429	334,902	335,379	335,846	—
Total stockholders’ equity	US$ in thousands	711,360	674,680	668,907	656,195	642,071	594,132	605,994	618,556	618,355	617,907	633,275
Debt-to-capital ratio		0.32	0.33	0.33	0.34	0.34	0.36	0.36	0.35	0.35	0.35	0.00

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 been relatively stable over the past few quarters, ranging between 0.32 and 0.36. This ratio indicates the proportion of the company's capital that is financed through debt. A lower ratio suggests a lower dependence on debt for funding, while a higher ratio may indicate higher financial risk.

N-Able Inc's debt-to-capital ratio of 0.32 as of December 31, 2023, implies that approximately 32% of its capital structure is comprised of debt, while the remaining 68% is attributable to equity. This suggests a moderate level of debt usage compared to equity in the company's financing structure.

Overall, the trend in N-Able Inc's debt-to-capital ratio indicates a relatively conservative approach to capital structure management, with a consistent level of debt utilization over the quarters analyzed. Monitoring this ratio over time can provide insights into the company's financial leverage and risk management strategies.