Repligen Corporation (RGEN)

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	510,143	—	—	—	0	—	—	—	—	—	249,423	246,561	243,737	240,942	238,183	235,458	232,767	230,182	—	—
Total stockholders’ equity	US$ in thousands	1,971,200	1,988,560	1,970,930	1,940,490	1,910,700	1,835,110	1,805,360	1,766,400	1,750,070	1,715,260	1,603,070	1,556,220	1,529,150	1,124,870	1,100,030	1,069,760	1,059,770	1,045,120	878,968	625,025
Debt-to-capital ratio		0.21	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.13	0.14	0.14	0.18	0.18	0.18	0.18	0.18	0.00	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $510,143K ÷ ($510,143K + $1,971,200K)
= 0.21

The debt-to-capital ratio of Repligen Corp. has been relatively stable over the past eight quarters, ranging between 0.13 and 0.14. This indicates that the company has maintained a moderate level of debt compared to its total capital structure during this period. A lower debt-to-capital ratio suggests that the company relies less on debt financing and has a stronger equity position.

Overall, the consistency in the debt-to-capital ratio may indicate that Repligen Corp. has a balanced capital structure and is managing its debt levels effectively. It is important to continue monitoring this ratio in conjunction with other financial metrics to assess the company's overall financial health and risk management strategies.