Sensient Technologies Corporation (SXT)

Debt-to-equity ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	645,085	630,331	503,006	518,004	598,499
Total stockholders’ equity	US$ in thousands	1,053,320	999,598	938,425	934,336	881,589
Debt-to-equity ratio		0.61	0.63	0.54	0.55	0.68

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $645,085K ÷ $1,053,320K
= 0.61

Sensient Technologies Corp.'s debt-to-equity ratio has shown some fluctuations over the past five years. The ratio was 0.63 at the end of 2023, a slight decrease from 0.65 in 2022. This implies that the company had $0.63 in debt for every $1 of equity in 2023.

In comparison to previous years, the debt-to-equity ratio was higher at 0.70 in 2019, indicating a decreased reliance on debt financing by the company over the years. The ratio dipped to 0.55 in 2021, suggesting a reduced level of debt relative to equity compared to 2020.

Overall, Sensient Technologies Corp.'s debt-to-equity ratio has demonstrated some variability but has generally been within a moderate range over the past five years. This suggests a balanced approach to utilizing debt as part of the company's capital structure, neither overly conservative nor aggressive.