Tandem Diabetes Care Inc (TNDM)

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	285,035	284,580	284,128	283,679	283,232	282,787	282,345	281,905	281,467	281,032	280,599	280,168	202,984	199,120	195,344	—	0	—	—	—
Total stockholders’ equity	US$ in thousands	313,632	314,000	329,234	338,753	439,947	421,822	449,584	437,382	433,112	389,654	346,085	313,414	366,305	326,544	267,704	207,176	194,979	166,994	145,345	120,962
Debt-to-capital ratio		0.48	0.48	0.46	0.46	0.39	0.40	0.39	0.39	0.39	0.42	0.45	0.47	0.36	0.38	0.42	0.00	0.00	0.00	0.00	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

The debt-to-capital ratio of Tandem Diabetes Care Inc has been relatively stable over the past eight quarters, ranging between 0.39 and 0.48. This ratio indicates the proportion of the company's total capital that is financed by debt, with the remainder funded by equity.

The trend shows that the company has maintained a moderate level of debt in relation to its total capital structure. A ratio of 0.48 in the most recent quarter suggests that around 48% of the company's capital is derived from debt sources, while the remaining 52% is from equity.

Consistency in the debt-to-capital ratio can imply a stable financial structure, but it is important for investors and stakeholders to assess this metric in conjunction with other indicators to gain a comprehensive understanding of the company's financial health and risk profile. Further analysis of the company's interest coverage ratio, debt maturity profile, and overall leverage position would provide additional insights into its debt management practices.