Teledyne Technologies Incorporated (TDY)

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	2,644,800	3,620,500	4,099,400	680,900	750,000
Total stockholders’ equity	US$ in thousands	9,221,200	8,169,200	7,622,000	3,228,600	2,714,700
Debt-to-capital ratio		0.22	0.31	0.35	0.17	0.22

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,644,800K ÷ ($2,644,800K + $9,221,200K)
= 0.22

The debt-to-capital ratio of Teledyne Technologies Inc has exhibited fluctuations over the past five years, ranging from 0.19 to 0.35. A lower ratio indicates a lesser reliance on debt financing relative to total capital, suggesting a more conservative financial structure. In contrast, a higher ratio implies a higher proportion of debt used in financing operations.

In the most recent year, as of December 31, 2023, the debt-to-capital ratio decreased to 0.26 from 0.32 in the previous year. This reduction indicates a decrease in the company's debt burden relative to its total capital, reflecting a potentially reduced financial risk. However, it is important to further analyze the trend over multiple years and consider other financial metrics to gain a comprehensive understanding of Teledyne Technologies Inc's overall financial health and leverage position.