Wynn Resorts Limited (WYNN)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	11,028,700	11,569,300	11,884,500	12,469,400	10,080,000
Total stockholders’ equity	US$ in thousands	-251,382	-750,838	-214,418	-351,997	1,743,040
Debt-to-capital ratio		1.02	1.07	1.02	1.03	0.85

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $11,028,700K ÷ ($11,028,700K + $-251,382K)
= 1.02

The debt-to-capital ratio of Wynn Resorts Ltd. has shown some fluctuations over the past five years. In 2023, the ratio stands at 1.02, which indicates that debt accounts for 102% of the company's total capital. This suggests that Wynn Resorts has a relatively high level of debt compared to its capital structure.

Comparing this to the trend over the previous years, the ratio was slightly higher at 1.07 in 2022 and remained relatively stable around 1.02 in 2021 and 1.03 in 2020. The lowest ratio in recent years was observed in 2019 at 0.86, signifying a lower level of debt relative to capital.

Overall, the fluctuation in Wynn Resorts' debt-to-capital ratio suggests varying levels of financial leverage and risk in its capital structure over the years. Investors and analysts should keep a close eye on this ratio to assess the company's ability to manage its debt obligations and maintain a sustainable financial position.