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
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.