Tandem Diabetes Care Inc (TNDM)

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	285,035	283,232	281,467	202,984	0
Total stockholders’ equity	US$ in thousands	313,632	439,947	433,112	366,305	194,979
Debt-to-capital ratio		0.48	0.39	0.39	0.36	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $285,035K ÷ ($285,035K + $313,632K)
= 0.48

Tandem Diabetes Care Inc's debt-to-capital ratio has shown a fluctuating trend over the past five years. The ratio increased from 0.00 in 2019 to 0.36 in 2020, indicating a significant shift towards utilizing debt in the capital structure. Subsequently, there was a further increase to 0.39 in both 2021 and 2022, suggesting a relatively stable reliance on debt financing during these years. Notably, in 2023, the debt-to-capital ratio rose to 0.48, signaling a notable increase in debt compared to the total capital employed in the company. This upward trajectory in the ratio may indicate a higher financial risk for the company as it becomes more leveraged. It is essential for stakeholders to closely monitor Tandem Diabetes Care Inc's debt levels and evaluate its ability to manage the associated risks effectively.