Tegna Inc (TGNA)

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	3,072,800	3,069,320	3,231,970	3,553,220	4,179,240
Total stockholders’ equity	US$ in thousands	2,704,870	3,071,720	2,519,910	2,058,100	1,590,380
Debt-to-capital ratio		0.53	0.50	0.56	0.63	0.72

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $3,072,800K ÷ ($3,072,800K + $2,704,870K)
= 0.53

The debt-to-capital ratio for TEGNA Inc has fluctuated over the past five years, indicating varying levels of leverage. The ratio stood at 0.53 at the end of 2023, showing an increase compared to the previous year. This suggests that the company relied on debt to finance a higher proportion of its capital structure in 2023. Despite this, the ratio remains below the levels reported in 2020 and 2019, reflecting a potential improvement in the company's debt management. Overall, a decreasing trend in the debt-to-capital ratio over time may indicate a reduction in financial risk and improved financial health.