Waters Corporation (WAT)

Debt-to-equity ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Long-term debt	US$ in thousands	1,626,490	1,826,250	2,006,010	—	2,305,510	2,455,260	2,580,200	1,430,130	1,524,880	1,494,630	1,434,370	1,444,120	1,513,870	1,613,620	1,603,370	1,603,090	1,206,520	1,421,340	1,546,160	1,845,980
Total stockholders’ equity	US$ in thousands	1,828,510	1,603,100	1,411,970	1,256,520	1,150,340	905,522	771,229	599,823	504,488	385,236	392,124	374,937	367,554	295,222	268,273	230,962	232,144	-41,581	-191,742	-337,999
Debt-to-equity ratio		0.89	1.14	1.42	0.00	2.00	2.71	3.35	2.38	3.02	3.88	3.66	3.85	4.12	5.47	5.98	6.94	5.20	—	—	—

December 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,626,490K ÷ $1,828,510K
= 0.89

The debt-to-equity ratio of Waters Corporation has been declining steadily over the past few years, indicating a decreasing reliance on debt financing relative to equity. As of December 31, 2024, the ratio stands at 0.89, suggesting that the company's debt levels are significantly lower when compared to its equity. This trend may signify a stronger financial position and lower financial risk for Waters Corporation, as a lower debt-to-equity ratio generally implies less financial leverage and potential for financial distress. It is important to continue monitoring this ratio to ensure that the company maintains a healthy balance between debt and equity in its capital structure.