Tidewater Inc (TDW)

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	631,361	169,036	167,885	164,934	279,044
Total stockholders’ equity	US$ in thousands	1,039,240	865,968	701,303	822,115	1,014,800
Debt-to-capital ratio		0.38	0.16	0.19	0.17	0.22

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $631,361K ÷ ($631,361K + $1,039,240K)
= 0.38

The debt-to-capital ratio of Tidewater Inc has varied over the past five years, ranging from 0.16 to 0.38. In 2023, the ratio increased to 0.38 from 0.16 in 2022, indicating a higher reliance on debt compared to the company's capital structure. This could suggest that Tidewater Inc has taken on more debt relative to its total capital in 2023.

On the other hand, the ratio was relatively lower in 2022, 2021, and 2020 at 0.16, 0.19, and 0.17 respectively, indicating a lower level of debt compared to capital during those years. The ratio was highest in 2019 at 0.22, showing a higher debt component in the capital structure compared to the other years analyzed.

Overall, the trend in the debt-to-capital ratio of Tidewater Inc indicates fluctuations in the company's debt levels relative to its capital structure over the past five years, with the highest ratio observed in 2023 and the lowest in 2022. It would be important for stakeholders to further investigate the reasons behind these variations and assess the implications for the company's financial health and risk profile.