Portland General Electric Co (POR)

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	3,905,000	3,786,000	3,486,000	3,485,000	3,386,000	3,286,000	3,286,000	3,286,000	3,285,000	3,285,000	2,887,000	2,886,000	2,886,000	2,657,000	2,676,000	2,478,000	2,597,000	2,328,000	2,377,000	2,178,000
Total stockholders’ equity	US$ in thousands	3,319,000	3,295,000	3,200,000	3,112,000	2,779,000	2,760,000	2,738,000	2,709,000	2,707,000	2,675,000	2,661,000	2,675,000	2,613,000	2,595,000	2,646,000	2,638,000	2,591,000	2,564,000	2,542,000	2,548,000
Debt-to-capital ratio		0.54	0.53	0.52	0.53	0.55	0.54	0.55	0.55	0.55	0.55	0.52	0.52	0.52	0.51	0.50	0.48	0.50	0.48	0.48	0.46

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $3,905,000K ÷ ($3,905,000K + $3,319,000K)
= 0.54

The debt-to-capital ratio of Portland General Electric Co has been relatively stable over the past eight quarters, ranging between 0.55 and 0.59. This ratio indicates the proportion of the company's capital structure that is financed through debt. A decreasing trend in the ratio could suggest a decreasing reliance on debt financing, while an increasing trend may indicate a higher level of leverage.

With the ratio remaining around 0.55 to 0.59, it appears that Portland General Electric Co has maintained a moderate level of debt relative to its total capital structure during the period under review. It is essential to consider the company's overall financial strategy, risk tolerance, and market conditions when evaluating the implications of its debt-to-capital ratio.