Perrigo Company PLC (PRGO)

Debt-to-capital ratio

		Jun 30, 2024	Mar 31, 2024	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
Long-term debt	US$ in thousands	3,616,800	3,624,900	3,632,800	4,048,500	4,055,900	4,062,800	4,070,400	4,077,500	4,086,100	3,510,600	2,916,700	2,920,900	2,925,800	3,525,300	3,527,600	3,543,600	3,536,000	3,182,900	3,365,800	3,361,500
Total stockholders’ equity	US$ in thousands	4,545,300	4,687,000	4,767,900	4,738,100	4,848,600	4,833,900	4,842,100	4,602,700	4,849,800	5,104,500	5,151,700	5,182,400	5,511,100	5,558,000	5,655,100	5,820,300	5,910,400	5,786,400	5,803,800	5,758,800
Debt-to-capital ratio		0.44	0.44	0.43	0.46	0.46	0.46	0.46	0.47	0.46	0.41	0.36	0.36	0.35	0.39	0.38	0.38	0.37	0.35	0.37	0.37

June 30, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $3,616,800K ÷ ($3,616,800K + $4,545,300K)
= 0.44

The debt-to-capital ratio of Perrigo Company PLC has been relatively stable over the past few quarters, ranging between 0.35 and 0.47. This ratio indicates the proportion of the company's capital structure that is financed by debt. A decreasing trend in the ratio may suggest that the company is reducing its reliance on debt to fund its operations and investments, which can be viewed positively by investors and creditors. Conversely, an increasing trend in the ratio could indicate a higher level of financial risk and leverage. Overall, the ratio suggests that Perrigo has maintained a moderate level of debt relative to its capital base over the period analyzed.