Sherwin-Williams Co (SHW)
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 | 8,377,900 | 8,499,200 | 9,095,700 | 9,593,100 | 9,591,000 | 9,588,900 | 8,593,600 | 8,592,300 | 8,590,900 | 7,604,900 | 7,603,800 | 7,862,400 | 8,266,900 | 8,266,900 | 8,289,400 | 8,289,200 | 8,050,700 | 8,043,000 | 7,209,500 | 8,702,600 |
| Total stockholders’ equity | US$ in thousands | 3,715,800 | 3,780,000 | 3,631,100 | 3,166,800 | 3,102,100 | 2,597,800 | 2,224,600 | 2,234,300 | 2,437,200 | 2,690,300 | 2,840,400 | 3,078,700 | 3,610,800 | 4,207,300 | 3,869,900 | 3,289,100 | 4,123,300 | 4,022,900 | 3,747,500 | 3,460,100 |
| Debt-to-capital ratio | 0.69 | 0.69 | 0.71 | 0.75 | 0.76 | 0.79 | 0.79 | 0.79 | 0.78 | 0.74 | 0.73 | 0.72 | 0.70 | 0.66 | 0.68 | 0.72 | 0.66 | 0.67 | 0.66 | 0.72 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $8,377,900K ÷ ($8,377,900K + $3,715,800K)
= 0.69
The debt-to-capital ratio of Sherwin-Williams Co. has shown a fluctuating trend over the past eight quarters, ranging from 0.72 to 0.83. This ratio indicates the proportion of the company's total debt in relation to its total capital, which includes both debt and equity.
In the most recent quarter, Q4 2023, the debt-to-capital ratio decreased slightly to 0.73 from 0.74 in the previous quarter, Q3 2023. This decrease suggests a slightly lower level of debt relative to the company's capital structure compared to the previous quarter.
Overall, Sherwin-Williams Co. has maintained a relatively stable debt-to-capital ratio over the past two years, with some fluctuations within the range of 0.72 to 0.83. It is important to consider the reasons behind these fluctuations, such as changes in debt levels, capital structure, or profitability, to gain a deeper understanding of the company's financial health and risk profile.
Peer comparison
Dec 31, 2023