Patrick Industries Inc (PATK)

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	1,018,360	1,104,620	1,215,880	1,332,160	1,276,150	1,333,460	1,474,740	1,489,810	1,278,990	1,077,660	1,076,950	785,849	810,907	673,852	673,138	672,235	670,354	670,928	569,844	613,599
Total stockholders’ equity	US$ in thousands	1,045,340	1,031,300	997,422	969,822	955,169	946,676	897,590	799,972	767,557	692,048	643,271	595,275	559,441	525,829	493,268	495,376	497,481	479,938	458,617	429,089
Debt-to-equity ratio		0.97	1.07	1.22	1.37	1.34	1.41	1.64	1.86	1.67	1.56	1.67	1.32	1.45	1.28	1.36	1.36	1.35	1.40	1.24	1.43

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,018,360K ÷ $1,045,340K
= 0.97

The debt-to-equity ratio for Patrick Industries, Inc. has shown fluctuations over the past eight quarters. The ratio peaked at 1.87 in Q1 2022 and has since gradually decreased to 0.98 in Q4 2023. This indicates that the company's reliance on debt in relation to equity has lessened over time, which can be viewed positively by investors and creditors. A decreasing trend in the debt-to-equity ratio generally reflects a healthier balance sheet and financial stability for the company. However, it is important to monitor future trends to ensure that the company maintains a sustainable capital structure.