Varex Imaging Corp (VREX)
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 | 441,400 | 441,100 | 441,100 | 441,000 | 440,800 | 412,300 | 410,100 | 408,400 | 433,700 | 431,700 | 429,800 | 458,000 | 457,500 | 452,800 | 389,500 | 352,800 | 350,900 | 364,400 | 379,400 | 316,700 |
| Total stockholders’ equity | US$ in thousands | 568,900 | 567,700 | 531,500 | 519,600 | 511,700 | 533,400 | 514,800 | 501,100 | 492,800 | 483,300 | 471,500 | 454,700 | 450,200 | 451,700 | 467,100 | 451,100 | 447,900 | 444,900 | 434,400 | 433,300 |
| Debt-to-capital ratio | 0.44 | 0.44 | 0.45 | 0.46 | 0.46 | 0.44 | 0.44 | 0.45 | 0.47 | 0.47 | 0.48 | 0.50 | 0.50 | 0.50 | 0.45 | 0.44 | 0.44 | 0.45 | 0.47 | 0.42 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $441,400K ÷ ($441,400K + $568,900K)
= 0.44
The debt-to-capital ratio of Varex Imaging Corp has shown fluctuations over the past few years. The ratio indicates the proportion of debt in the company's capital structure. A higher ratio suggests a higher level of financial leverage and potential financial risk.
From December 2019 to March 2020, the ratio was relatively stable around 0.44-0.45. However, from June 2020 to December 2020, there was a slight decrease to 0.42, indicating a lower level of debt relative to capital during that period.
Subsequently, from March 2021 to December 2021, the ratio increased steadily from 0.44 to 0.47, reaching its highest point at 0.50 in March 2022. This upward trend may indicate an increase in the company's debt compared to its capital base during this period.
From March 2022 to December 2023, the ratio fluctuated between 0.44 and 0.47, showing some variability in the level of debt relative to capital but remaining within a relatively narrow range.
Overall, the debt-to-capital ratio of Varex Imaging Corp has shown some volatility over the analyzed period, with fluctuations indicating changes in the company's debt levels and capital structure. Investors and analysts may want to closely monitor this ratio to assess the company's financial risk and leverage position.
Peer comparison
Dec 31, 2023