TransMedics Group Inc (TMDX)

Debt-to-equity ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	506,204	58,696	35,197	34,657	34,146
Total stockholders’ equity	US$ in thousands	137,202	187,375	67,854	103,891	54,649
Debt-to-equity ratio		3.69	0.31	0.52	0.33	0.62

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $506,204K ÷ $137,202K
= 3.69

TransMedics Group Inc's debt-to-equity ratio has fluctuated over the past five years. In 2023, the ratio increased significantly to 3.69, indicating a higher level of debt relative to equity compared to previous years. This suggests that the company relies more on debt financing rather than equity financing in its capital structure for the most recent year.

In contrast, the ratio was at a relatively low level in 2022, at 0.31, reflecting a more conservative capital structure with less reliance on debt. The ratio then increased to 0.52 in 2021 before dropping back down to 0.33 in 2020.

The highest debt-to-equity ratio was seen in 2019 at 0.62, indicating a higher level of debt compared to equity in that year. Overall, the trend in the debt-to-equity ratio for TransMedics Group Inc has been somewhat volatile, suggesting fluctuations in the company's capital structure and financing decisions over the past five years. Investors and stakeholders may want to closely monitor these changes to assess the company's risk profile and financial health.