Texas Roadhouse Inc (TXRH)

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	0	50,000	100,000	190,000	—
Total stockholders’ equity	US$ in thousands	1,141,660	1,012,640	1,058,120	927,505	915,994
Debt-to-capital ratio		0.00	0.05	0.09	0.17	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $0K ÷ ($0K + $1,141,660K)
= 0.00

The debt-to-capital ratio of Texas Roadhouse Inc has fluctuated over the years, indicating changes in the company's capital structure and leverage. In 2023, the company showed a debt-to-capital ratio of 0.00, implying a capital structure with no debt and purely equity financing. This could suggest a lower financial risk and lower interest expense for the company in that year.

Comparing to previous years:
- In 2022, the ratio was 0.05, indicating a slight increase in debt relative to capital compared to 2023.
- In 2021, the ratio increased to 0.09, reflecting a higher proportion of debt in the capital structure compared to the previous two years.
- In 2020, the ratio further increased to 0.17, signifying a significant rise in debt compared to capital, potentially indicating increased leverage and financial risk.
- In 2019, the ratio was 0.00, similar to 2023, suggesting no debt in the capital structure in that year.

Overall, the trend in the debt-to-capital ratio for Texas Roadhouse Inc shows variability throughout the years, potentially reflecting the company's financing decisions and financial strategies. Lower ratios indicate less reliance on debt financing, while higher ratios suggest a higher proportion of debt in the capital structure, leading to increased financial risk and interest costs.