Perdoceo Education Corp (PRDO)

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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	841,421	829,659	792,432	761,172	725,845	706,222	692,760	678,380	650,110	645,385	613,612	588,345	555,907	521,671	478,684	445,143	431,295	401,944	381,248	380,322
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $841,421K)
= 0.00

Perdoceo Education Corporation has consistently maintained a debt-to-capital ratio of 0.00 over the past eight quarters. This indicates that the company has not utilized any debt to finance its operations during this period and has relied solely on equity for capital. A debt-to-capital ratio of 0.00 signifies a low financial risk as the company's debt levels are negligible compared to its total capital, suggesting a strong financial position. However, it is important to consider that having no debt may also limit the company's ability to leverage opportunities for growth or potential tax advantages associated with debt financing. Overall, the consistent zero debt-to-capital ratio reflects a conservative capital structure strategy by Perdoceo Education Corporation.