PPG Industries Inc (PPG)

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 5,748,000 5,596,000 6,099,000 7,082,000 6,503,000 6,478,000 6,766,000 6,834,000 6,572,000 6,092,000 6,387,000 5,336,000 5,171,000 4,828,000 4,613,000 4,751,000 4,539,000 4,885,000 4,845,000 4,626,000
Total stockholders’ equity US$ in thousands 7,832,000 7,751,000 7,614,000 7,142,000 6,592,000 6,034,000 6,182,000 6,218,000 6,286,000 6,253,000 6,242,000 5,839,000 5,689,000 5,310,000 4,832,000 4,723,000 5,284,000 5,247,000 5,079,000 4,904,000
Debt-to-equity ratio 0.73 0.72 0.80 0.99 0.99 1.07 1.09 1.10 1.05 0.97 1.02 0.91 0.91 0.91 0.95 1.01 0.86 0.93 0.95 0.94

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $5,748,000K ÷ $7,832,000K
= 0.73

The debt-to-equity ratio of PPG Industries, Inc. has shown a gradual decline over the last two years, indicating a positive trend in the company's capital structure. In Q1 2022, the ratio was at its peak of 1.15, suggesting a higher proportion of debt relative to equity. However, since then, the ratio has steadily decreased to 0.77 in Q4 2023, signaling a reduction in the company's reliance on debt financing.

A decreasing debt-to-equity ratio can indicate improving financial health and reduced financial risk for PPG Industries, Inc. It implies that the company is relying more on equity financing rather than debt, which can enhance its financial stability and flexibility. Overall, the declining trend in the debt-to-equity ratio reflects a positive trajectory in PPG Industries, Inc.'s capital structure management.


Peer comparison

Dec 31, 2023

Company name
Symbol
Debt-to-equity ratio
PPG Industries Inc
PPG
0.73
Axalta Coating Systems Ltd
AXTA
2.01
RPM International Inc
RPM
0.00