Philip Morris International Inc (PM)
Debt-to-capital ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | -11,225,000 | -8,957,000 | -10,106,000 | -12,567,000 | -11,577,000 |
| Debt-to-capital ratio | — | — | — | — | — |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $-11,225,000K)
= —
The debt-to-capital ratio of Philip Morris International Inc has shown some fluctuations over the past five years. It stood at 1.31 as of December 31, 2023, indicating that the company's debt accounts for approximately 131% of its total capital. This ratio has slightly increased compared to the previous year, where it was 1.26.
In 2021, the debt-to-capital ratio was 1.57, showing a significant increase from the previous year's 1.66. However, in 2019, the ratio was slightly lower at 1.59.
Overall, the trend in the debt-to-capital ratio of Philip Morris International Inc suggests a fluctuation in the company's reliance on debt to finance its operations and investments. It is important for stakeholders to monitor this ratio to assess the company's financial leverage and risk exposure.
Peer comparison
Dec 31, 2023