Ingevity Corp (NGVT)
Debt-to-equity 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 631,400 | 718,700 | 714,100 | 725,700 | 698,300 | 633,900 | 654,300 | 686,100 | 673,800 | 644,500 | 688,500 | 661,100 | 642,100 | 617,000 | 522,900 | 502,100 | 530,800 | 443,300 | 400,700 | 358,700 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $631,400K
= 0.00
The debt-to-equity ratio for Ingevity Corp has been fluctuating over the past eight quarters, ranging from 1.80 to 2.32. The higher values indicate that the company has been relying more on debt to finance its operations compared to equity.
In Q4 2023, the debt-to-equity ratio increased to 2.32 from 2.05 in Q3 2023. This suggests that the company took on more debt relative to its equity in the most recent quarter.
Overall, the trend in the debt-to-equity ratio indicates that Ingevity Corp has been gradually increasing its leverage over the periods analyzed. It is important to monitor this ratio going forward as higher levels of debt can increase financial risk and impact the company's ability to meet its financial obligations.
Peer comparison
Dec 31, 2023