SPS Commerce Inc (SPSC)

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	667,475	626,844	600,981	565,889	537,073	507,663	497,020	491,521	484,259	470,528	454,749	440,523	420,721	394,940	373,310	355,188	354,876	345,068	338,333	330,704
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 + $667,475K)
= 0.00

The debt-to-capital ratio for SPS Commerce Inc. has consistently been reported as 0.00 across all quarters from Q1 2022 to Q4 2023. A debt-to-capital ratio of 0.00 indicates that the company has no debt in its capital structure, implying that all capital is derived from equity. This signifies a strong financial position in terms of leverage and indicates that the company is not relying on debt financing to fund its operations or growth. The consistent trend of a 0.00 debt-to-capital ratio over multiple quarters suggests that the company has been managing its capital structure effectively and maintaining a healthy balance between debt and equity.