Wynn Resorts Limited (WYNN)

Debt-to-capital 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	10,500,500	10,547,500	9,739,420	9,920,130	11,028,700	11,678,700	12,101,500	12,107,000	11,569,300	11,570,400	11,367,900	11,872,900	11,884,500	11,693,800	10,612,600	11,755,200	12,469,400	12,563,000	12,477,200	11,133,000
Total stockholders’ equity	US$ in thousands	-224,161	-281,402	-109,824	-136,953	-251,382	-821,764	-630,253	-717,434	-750,838	-763,153	-609,362	-337,040	-214,418	-53,238	102,752	233,683	-351,997	-128,703	619,519	1,242,090
Debt-to-capital ratio		1.02	1.03	1.01	1.01	1.02	1.08	1.05	1.06	1.07	1.07	1.06	1.03	1.02	1.00	0.99	0.98	1.03	1.01	0.95	0.90

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $10,500,500K ÷ ($10,500,500K + $-224,161K)
= 1.02

The debt-to-capital ratio of Wynn Resorts Limited has been gradually increasing over the past few years, reflecting a higher proportion of debt in its capital structure. The ratio stood at 0.90 as of March 31, 2020, and consistently rose to 1.07 by September 30, 2022. Although there were fluctuations in the ratio over subsequent quarters, it generally remained above 1, indicating that the company's debt level exceeded its capital base during this period.

The increasing trend in the debt-to-capital ratio may indicate that Wynn Resorts Limited has been relying more on debt financing to fund its operations and investments. This could potentially lead to higher financial leverage and interest expenses, which may pose risks in terms of financial stability and solvency. Investors and stakeholders would typically monitor this ratio closely to assess the company's ability to meet its debt obligations and evaluate its overall financial health.