Wingstop Inc (WING)

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	712,327	711,867	711,411	705,483	706,846	708,176	709,546	710,918	469,394	469,084	468,774	466,056	466,933	311,240	310,846	310,461	307,669	308,081	308,511	308,931
Total stockholders’ equity	US$ in thousands	-457,366	-475,442	-365,351	-379,790	-390,861	-406,596	-415,470	-424,227	-309,525	-314,132	-322,243	-331,728	-341,310	-183,537	-192,672	-202,948	-209,428	-211,575	-216,368	-220,478
Debt-to-capital ratio		2.79	3.01	2.06	2.17	2.24	2.35	2.41	2.48	2.94	3.03	3.20	3.47	3.72	2.44	2.63	2.89	3.13	3.19	3.35	3.49

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $712,327K ÷ ($712,327K + $-457,366K)
= 2.79

The debt-to-capital ratio of Wingstop Inc has shown a fluctuating trend over the past few quarters, ranging from 2.06 to 3.72. This ratio indicates the proportion of debt in the company's capital structure relative to its total capital, which includes both debt and equity.

The ratio peaked at 3.72 in March 2021 and has since generally decreased, suggesting a reduction in the company's reliance on debt financing compared to its total capital. However, it is important to note that the ratio has remained above 2 consistently, indicating a significant presence of debt in Wingstop Inc's capital structure.

Overall, the trend in the debt-to-capital ratio suggests that Wingstop Inc has been actively managing its debt levels, but still maintains a notable level of debt relative to its capital. Investors and analysts may continue to monitor this ratio to assess the company's financial risk and leverage position.