TTM Technologies Inc (TTMI)

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	914,336	879,407	927,818	842,853	1,225,960
Total stockholders’ equity	US$ in thousands	1,511,040	1,535,580	1,455,420	1,444,010	1,279,040
Debt-to-equity ratio		0.61	0.57	0.64	0.58	0.96

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $914,336K ÷ $1,511,040K
= 0.61

TTM Technologies Inc has demonstrated a fluctuating trend in its debt-to-equity ratio over the past five years. The ratio has ranged from 0.57 to 0.96 during this period, indicating varying levels of reliance on debt financing compared to equity.

In 2019, the company had a relatively high debt-to-equity ratio of 0.96, suggesting a significant proportion of debt used to finance its operations. However, the ratio decreased to 0.58 in 2020, indicating a reduction in debt levels relative to equity. This trend continued in 2021 with a slight increase to 0.64, before decreasing again to 0.57 in 2022.

The debt-to-equity ratio increased to 0.61 in 2023, reflecting a higher reliance on debt compared to the previous year. Overall, the fluctuating trend in the debt-to-equity ratio indicates that TTM Technologies Inc has been actively managing its capital structure and adjusting its financing mix over the years.