TTM Technologies Inc (TTMI)

Debt-to-equity 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	914,336	864,824	864,413	879,993	879,407	929,004	928,605	928,210	927,818	926,922	926,523	926,128	842,853	840,023	832,834	1,229,370	1,225,960	1,472,580	1,469,270	1,466,010
Total stockholders’ equity	US$ in thousands	1,511,040	1,501,110	1,544,310	1,527,730	1,535,580	1,522,470	1,474,080	1,447,830	1,455,420	1,466,590	1,470,370	1,442,470	1,444,010	1,399,300	1,433,960	1,277,200	1,279,040	1,247,350	1,229,080	1,226,860
Debt-to-equity ratio		0.61	0.58	0.56	0.58	0.57	0.61	0.63	0.64	0.64	0.63	0.63	0.64	0.58	0.60	0.58	0.96	0.96	1.18	1.20	1.19

December 31, 2023 calculation

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

The debt-to-equity ratio for TTM Technologies Inc has shown some fluctuations over the past few quarters. The ratio has ranged from 0.56 to 1.20 during the period from March 2019 to December 2023. Generally, a debt-to-equity ratio below 1 indicates that the company relies more on equity financing rather than debt financing.

From March 2019 to September 2020, the debt-to-equity ratio was relatively stable, ranging between 0.58 and 0.60. However, there was a significant increase in the ratio in December 2020, reaching 0.96, and this high ratio continued through March 2021.

The ratio dropped in June 2021 to 0.63 but increased again in March 2022 to 0.64. From June 2022 to September 2023, the ratio fluctuated between 0.61 and 0.64, showing a moderate level of leverage.

Investors and stakeholders should monitor TTM Technologies Inc's debt-to-equity ratio to assess the company's ability to meet its financial obligations and to evaluate the level of risk associated with its capital structure. It is important to understand the factors driving changes in the ratio to make informed investment decisions.