Pitney Bowes Inc (PBI)
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 | 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 | ||
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Long-term debt | US$ in thousands | 2,087,100 | 2,101,600 | 1,884,800 | 1,910,530 | 2,172,500 | 2,189,570 | 2,194,770 | 2,199,830 | 2,299,100 | 2,314,150 | 2,330,700 | 2,418,880 | 2,348,360 | 2,531,710 | 2,553,490 | 2,567,010 | 2,719,610 | 2,567,360 | 3,029,250 | 3,047,660 |
Total stockholders’ equity | US$ in thousands | -368,576 | -125,109 | -75,487 | 59,964 | 60,653 | -8,276 | 44,154 | 92,882 | 112,632 | 48,663 | 53,370 | 19,163 | 70,621 | 79,125 | 44,580 | 29,430 | 289,154 | 25,412 | 52,972 | 86,450 |
Debt-to-capital ratio | 1.21 | 1.06 | 1.04 | 0.97 | 0.97 | 1.00 | 0.98 | 0.96 | 0.95 | 0.98 | 0.98 | 0.99 | 0.97 | 0.97 | 0.98 | 0.99 | 0.90 | 0.99 | 0.98 | 0.97 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,087,100K ÷ ($2,087,100K + $-368,576K)
= 1.21
The debt-to-capital ratio measures the proportion of a company's capital that is financed through debt. Pitney Bowes, Inc.'s debt-to-capital ratio has fluctuated over the past eight quarters. In Q4 2023, the ratio was 1.21, indicating that the company's debt represented 121% of its capital structure. This was an increase compared to the prior quarter, Q3 2023, where the ratio was 1.06.
The trend over the past year shows an overall increase in the debt-to-capital ratio, with a peak in Q4 2023. This could suggest that Pitney Bowes, Inc. has been relying more on debt to finance its operations or investments. It is important for investors and analysts to closely monitor this trend to assess the company's financial leverage and risk exposure.
Comparing to Q4 2022, where the ratio was also at 0.97, the current higher ratio in Q4 2023 may raise concerns about the company's financial health and ability to manage its debt levels effectively. Further analysis of Pitney Bowes, Inc.'s financial statements and debt management strategies would be necessary to fully evaluate the implications of the increasing debt-to-capital ratio.