Wyndham Hotels & Resorts Inc (WH)

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	2,201,000	2,160,000	2,058,000	2,077,000	2,077,000	2,078,000	2,078,000	2,079,000	2,084,000	2,088,000	2,092,000	2,592,000	2,597,000	2,835,000	2,847,000	2,852,000	2,122,000	2,127,000	2,131,000	2,136,000
Total stockholders’ equity	US$ in thousands	746,000	856,000	880,000	936,000	962,000	1,056,000	1,096,000	1,159,000	1,089,000	1,123,000	1,060,000	991,000	963,000	963,000	933,000	1,112,000	1,212,000	1,112,000	1,300,000	1,364,000
Debt-to-capital ratio		0.75	0.72	0.70	0.69	0.68	0.66	0.65	0.64	0.66	0.65	0.66	0.72	0.73	0.75	0.75	0.72	0.64	0.66	0.62	0.61

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,201,000K ÷ ($2,201,000K + $746,000K)
= 0.75

The debt-to-capital ratio of Wyndham Hotels & Resorts Inc has been gradually increasing from 0.64 in Q1 2022 to 0.75 in Q4 2023. This indicates that the company's level of debt in relation to its total capital has been increasing over this period. Despite some fluctuations, the trend suggests a rising reliance on debt financing compared to equity financing. It would be important for stakeholders to monitor this trend to ensure the company's debt levels remain sustainable and in line with its overall capital structure strategy.