Teledyne Technologies Incorporated (TDY)

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	2,644,800	2,794,000	2,903,200	3,520,300	3,620,500	3,618,400	3,645,700	3,831,800	4,099,400	4,441,700	4,742,000	3,243,300	680,900	761,100	750,800	749,100	750,000	719,300	656,200	610,100
Total stockholders’ equity	US$ in thousands	9,221,200	8,721,900	8,579,000	8,365,700	8,169,200	7,688,500	7,861,900	7,832,400	7,622,000	7,416,600	7,312,400	3,336,300	3,228,600	3,026,000	2,879,900	2,753,000	2,714,700	2,571,000	2,473,000	2,349,500
Debt-to-capital ratio		0.22	0.24	0.25	0.30	0.31	0.32	0.32	0.33	0.35	0.37	0.39	0.49	0.17	0.20	0.21	0.21	0.22	0.22	0.21	0.21

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 shown a decreasing trend from 0.35 in Q1 2022 to 0.26 in Q4 2023. This indicates that the company has been reducing its reliance on debt to finance its operations compared to its capital base over the past eight quarters. A lower debt-to-capital ratio generally suggests a stronger financial position and lower financial risk for the company, as it indicates a smaller proportion of its capital structure is made up of debt. Teledyne Technologies Inc's consistent decline in this ratio may imply improved financial stability and a more conservative approach to capital structure management. Overall, the decreasing trend in the debt-to-capital ratio reflects positively on the company's financial health and risk management strategies.