PNM Resources Inc (PNM)
Debt-to-equity 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 | 4,241,640 | 3,902,690 | 3,927,620 | 3,668,080 | 3,892,590 | 3,893,500 | 3,573,090 | 3,620,040 | 3,519,580 | 3,395,980 | 3,186,050 | 2,205,130 | 2,719,630 | 2,509,750 | 2,437,250 | 2,468,720 | 2,517,450 | 2,467,000 | 2,672,160 | 2,771,940 |
Total stockholders’ equity | US$ in thousands | 2,349,090 | 2,235,210 | 2,262,240 | 2,212,190 | 2,191,930 | 2,201,880 | 2,131,520 | 2,115,530 | 2,167,520 | 2,144,950 | 2,088,230 | 2,030,970 | 2,049,460 | 1,773,320 | 1,696,500 | 1,627,220 | 1,678,700 | 1,670,910 | 1,612,150 | 1,684,680 |
Debt-to-equity ratio | 1.81 | 1.75 | 1.74 | 1.66 | 1.78 | 1.77 | 1.68 | 1.71 | 1.62 | 1.58 | 1.53 | 1.09 | 1.33 | 1.42 | 1.44 | 1.52 | 1.50 | 1.48 | 1.66 | 1.65 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $4,241,640K ÷ $2,349,090K
= 1.81
The debt-to-equity ratio of PNM Resources Inc has been gradually increasing over the past eight quarters, reaching a peak of 2.14 in Q3 2023 before slightly decreasing to 2.03 in Q4 2023. This indicates that the company relies more on debt financing compared to equity financing to support its operations and growth. The upward trend in the ratio suggests that PNM Resources Inc may have been taking on more debt relative to its equity over time. It is important for investors and stakeholders to monitor the trend in the debt-to-equity ratio to assess the company's leverage and financial risk.
Peer comparison
Dec 31, 2023