Insulet Corporation (PODD)

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	—	1,374,300	1,248,800	1,043,700	887,900
Total stockholders’ equity	US$ in thousands	732,700	476,400	556,300	603,600	75,900
Debt-to-capital ratio		0.00	0.74	0.69	0.63	0.92

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $732,700K)
= 0.00

The debt-to-capital ratio for Insulet Corporation has fluctuated over the past five years, indicating varying levels of leverage used by the company in financing its operations.

In 2019, the ratio was at its highest at 0.92, suggesting a higher proportion of debt in the company's capital structure compared to equity. This could indicate potential financial risk due to a heavy reliance on borrowing.

Over the subsequent years, the ratio decreased, reaching its lowest point in 2020 at 0.64. This decline could signify a shift towards a more conservative capital structure with a lower reliance on debt financing.

However, in 2021 and 2022, the ratio increased to 0.70 and 0.75 respectively, which might indicate a return to higher leverage and potentially increased financial risk.

In 2023, the debt-to-capital ratio decreased to 0.66, showing a lower level of debt relative to total capital compared to the previous year. This decrease could suggest a more balanced capital structure or possibly a reduction in the company's overall debt levels.

Overall, the trend in the debt-to-capital ratio for Insulet Corporation reflects fluctuations in the company's capital structure and financial leverage over the five-year period, highlighting the importance of monitoring these ratios to assess the company's risk profile and financial health.