Penumbra Inc (PEN)

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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	1,178,940	1,104,140	1,066,540	1,024,470	998,858	973,752	970,015	959,302	953,927	690,939	673,376	655,091	641,498	622,406	624,794	488,933	485,892	467,332	454,091	436,732
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $1,178,940K)
= 0.00

The debt-to-capital ratio of Penumbra Inc has remained relatively stable over the past eight quarters, ranging between 0.02 and 0.03. This indicates that a low proportion of the company's capital structure is comprised of debt compared to its total capital. The consistency in this ratio suggests that Penumbra Inc has been maintaining a conservative approach towards using debt to finance its operations and growth. This can be considered a positive indicator of the company's financial stability and ability to meet its debt obligations.