Wynn Resorts Limited (WYNN)

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	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	10,080,000	9,421,840	9,095,290	9,133,560
Total stockholders’ equity	US$ in thousands	-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	1,743,040	1,918,750	2,050,820	2,078,220
Debt-to-capital ratio		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	0.85	0.83	0.82	0.81

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. over the past eight quarters has ranged from 1.02 to 1.07. This ratio indicates the proportion of the company's total debt to its total capital, which includes both debt and equity. The fluctuations in the ratio suggest some variability in the company's capital structure over the period analyzed, with debt representing around 102% to 107% of the total capital.

Overall, the company's debt-to-capital ratio has generally remained relatively stable, hovering around 1.05 to 1.07 range for most of the quarters. This indicates that Wynn Resorts Ltd. relies heavily on debt financing compared to equity, as debt makes up a significant portion of its capital structure. Investors and stakeholders may closely monitor this ratio to assess the company's leverage and ability to meet its debt obligations.