Enpro Industries (NPO)
Debt-to-capital ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 638,700 | 775,100 | 963,900 | 487,500 | 625,200 |
| Total stockholders’ equity | US$ in thousands | 1,409,700 | 1,395,100 | 1,270,300 | 1,081,400 | 896,600 |
| Debt-to-capital ratio | 0.31 | 0.36 | 0.43 | 0.31 | 0.41 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $638,700K ÷ ($638,700K + $1,409,700K)
= 0.31
The debt-to-capital ratio for Enpro Inc has shown fluctuations over the past five years. In 2023, the ratio stands at 0.31, indicating that the company's debt accounts for 31% of its total capital. This marks a decrease from the previous year, where the ratio was 0.36.
Comparing to 2021 and 2019, when the ratios were 0.47 and 0.42 respectively, there has been an improvement in the financial leverage of the company as it has reduced the proportion of debt in its capital structure. However, it is worth noting that the ratio in 2020 was the same as in 2023, at 0.31, suggesting consistent debt levels relative to capital in those two years.
Overall, Enpro Inc's debt-to-capital ratio has displayed variability but seems to have improved in the most recent year, indicating a potentially more stable and healthier financial position with lower reliance on debt financing.