Warner Bros Discovery Inc (WBD)

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	40,500,000	36,800,000	41,200,000	41,600,000	38,000,000	38,200,000	42,100,000	13,605,000	14,420,000	14,436,000	14,462,000	14,675,000	15,069,000	14,981,000	14,944,000	15,267,000	14,810,000	14,757,000	14,823,000	14,956,000
Total stockholders’ equity	US$ in thousands	45,226,000	44,774,000	45,452,000	46,496,000	47,095,000	48,517,000	51,383,000	11,969,000	11,599,000	11,611,000	11,538,000	10,815,000	10,464,000	10,087,000	9,867,000	9,470,000	9,891,000	9,518,000	9,621,000	8,708,000
Debt-to-capital ratio		0.47	0.45	0.48	0.47	0.45	0.44	0.45	0.53	0.55	0.55	0.56	0.58	0.59	0.60	0.60	0.62	0.60	0.61	0.61	0.63

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $40,500,000K ÷ ($40,500,000K + $45,226,000K)
= 0.47

Warner Bros. Discovery Inc's debt-to-capital ratio has been relatively stable over the past eight quarters, ranging from 0.49 to 0.55. The company's significant debt levels compared to its capital structure indicate a moderate level of financial leverage. A decreasing trend in the debt-to-capital ratio would indicate a reduction in the company's reliance on debt financing and improved financial stability. Conversely, an increasing trend may suggest potential risks associated with higher leverage and debt obligations. It is important for investors and stakeholders to monitor this ratio closely to assess the company's financial health and risk exposure.