Sabre Corpo (SABR)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	4,829,460	4,717,090	4,723,680	4,717,810	3,261,820
Total stockholders’ equity	US$ in thousands	-1,388,480	-884,327	-508,907	355,604	939,081
Debt-to-capital ratio		1.40	1.23	1.12	0.93	0.78

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $4,829,460K ÷ ($4,829,460K + $-1,388,480K)
= 1.40

The debt-to-capital ratio of Sabre Corp has been increasing over the past five years, indicating a rising reliance on debt funding relative to total capital employed. In 2019, the ratio stood at 0.78, meaning that 78% of the company's capital was funded by debt. This ratio has steadily increased each year, reaching 1.40 by the end of 2023.

The upward trend in the debt-to-capital ratio suggests that Sabre Corp has been taking on more debt compared to its equity over the years. This may indicate a higher level of financial risk as the company may have increased interest payments and debt obligations to fulfill.

It is important for stakeholders to closely monitor this trend in the debt-to-capital ratio as a continuously rising ratio could potentially signal financial distress or limitations in the company's ability to service its debt in the long term.