Thermo Fisher Scientific Inc (TMO)

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	—	—	—	—	—	—	—	—	—	—	18,773,000	18,641,000	19,107,000	21,091,000	20,638,000	19,231,000	17,076,000	16,392,000	—	—
Total stockholders’ equity	US$ in thousands	46,735,000	45,328,000	43,752,000	42,257,000	43,978,000	43,549,000	42,293,000	40,956,000	40,793,000	38,710,000	36,854,000	35,058,000	34,507,000	31,824,000	29,875,000	28,559,000	29,675,000	29,355,000	28,729,000	27,693,000
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.34	0.35	0.36	0.40	0.41	0.40	0.37	0.36	0.00	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $46,735,000K)
= 0.00

Thermo Fisher Scientific Inc.'s debt-to-capital ratio has been relatively stable over the past eight quarters, ranging from 0.40 to 0.45. The ratio indicates the proportion of the company's total debt to its total capital, which includes both debt and equity.

With the ratio fluctuating between 0.40 and 0.45, it suggests that Thermo Fisher Scientific Inc. has been maintaining a moderate level of debt in relation to its total capital structure. A higher debt-to-capital ratio may indicate higher financial risk and leverage, which could potentially affect the company's financial stability and ability to meet its financial obligations.

Overall, based on the trend observed in the debt-to-capital ratio, Thermo Fisher Scientific Inc. appears to have a relatively stable capital structure with a moderate level of debt in relation to its total capital over the past eight quarters.