Gentherm Inc (THRM)

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	222,217	207,302	217,441	232,558	232,653	232,000	35,000	36,250	36,250	37,500	45,794	59,319	189,934	193,061	198,099	231,667	78,124	97,123	104,393	97,604
Total stockholders’ equity	US$ in thousands	644,722	660,052	670,560	680,318	672,273	624,089	643,195	655,787	653,806	655,480	645,210	612,758	586,331	511,796	469,321	470,381	484,096	451,593	465,281	478,487
Debt-to-capital ratio		0.26	0.24	0.24	0.25	0.26	0.27	0.05	0.05	0.05	0.05	0.07	0.09	0.24	0.27	0.30	0.33	0.14	0.18	0.18	0.17

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $222,217K ÷ ($222,217K + $644,722K)
= 0.26

The debt-to-capital ratio of Gentherm Inc has remained relatively stable over the past eight quarters, ranging from 0.24 to 0.27. This indicates that the company's level of debt relative to its capital structure has been fairly consistent during this period.

The ratio peaked at 0.27 in Q3 2022 but decreased to 0.06 in Q2 and Q1 2022, suggesting a significant decline in debt relative to capital during that time. However, the ratio increased back to around 0.26 in subsequent quarters, indicating a return to a higher level of debt compared to capital.

Overall, the debt-to-capital ratio of Gentherm Inc suggests that the company maintains a moderate level of debt in its capital structure, which could imply a balanced approach to financing its operations and investments. Further analysis of the company's overall financial health and performance would be necessary to fully evaluate the implications of this ratio.