Public Service Enterprise Group Inc (PEG)

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	17,784,000	17,039,000	16,394,000	17,140,000	16,495,000	16,150,000	16,471,000	16,968,000	15,219,000	14,425,000	15,350,000	15,346,000	14,496,000	14,792,000	13,580,000	14,040,000	13,743,000	14,448,000	14,301,000	13,216,000
Total stockholders’ equity	US$ in thousands	14,098,000	15,166,000	15,053,000	14,726,000	12,352,000	13,251,000	13,428,000	13,598,000	13,542,000	14,069,000	15,878,000	16,277,000	15,123,000	15,836,000	15,491,000	15,249,000	14,258,000	14,925,000	14,754,000	14,814,000
Debt-to-capital ratio		0.56	0.53	0.52	0.54	0.57	0.55	0.55	0.56	0.53	0.51	0.49	0.49	0.49	0.48	0.47	0.48	0.49	0.49	0.49	0.47

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $17,784,000K ÷ ($17,784,000K + $14,098,000K)
= 0.56

The debt-to-capital ratio of Public Service Enterprise Group Inc. has shown stability over the past eight quarters, ranging between 0.57 and 0.61. The company's ability to maintain a consistent ratio indicates a balanced capital structure and effective management of debt levels in relation to total capital.

In the most recent quarter, Q4 2023, the debt-to-capital ratio remained steady at 0.57, which suggests that the company's debt level is 57% of its total capital. This indicates that a significant portion of the company's capital structure is funded by debt, while the remaining percentage represents equity financing.

Comparing this to the previous quarters, there was a slight decrease from Q1 2023 (0.58) to Q4 2023 (0.57), showcasing a potential improvement in the company's debt management strategies. Additionally, when looking back to Q4 2022, where the ratio was at its highest at 0.60, it demonstrates a positive trend of decreasing debt reliance over time.

Overall, with a consistently moderate debt-to-capital ratio, Public Service Enterprise Group Inc. appears to have a balanced approach to leveraging debt as part of its capital structure without being excessively reliant on it.