Waters Corporation (WAT)

Debt-to-capital ratio

Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Long-term debt US$ in thousands 1,626,490 2,305,510 1,524,880 1,513,870 1,206,520
Total stockholders’ equity US$ in thousands 1,828,510 1,150,340 504,488 367,554 232,144
Debt-to-capital ratio 0.47 0.67 0.75 0.80 0.84

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,626,490K ÷ ($1,626,490K + $1,828,510K)
= 0.47

The debt-to-capital ratio of Waters Corporation has shown a decreasing trend over the past five years, declining from 0.84 in December 2020 to 0.47 in December 2024. This ratio indicates the proportion of the company's capital structure that is financed through debt. A lower debt-to-capital ratio suggests a stronger financial position, as the company relies less on debt to fund its operations and growth. Waters Corporation's decreasing debt-to-capital ratio may signify effective debt management, potentially reducing financial risk and enhancing overall stability. It is essential for investors and stakeholders to closely monitor this trend to assess the company's ability to manage debt levels and maintain a balanced capital structure.