Zebra Technologies Corporation (ZBRA)
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 | 2,047,000 | 1,809,000 | 922,000 | 881,000 | 1,080,000 |
| Total stockholders’ equity | US$ in thousands | 3,036,000 | 2,733,000 | 2,984,000 | 2,144,000 | 1,839,000 |
| Debt-to-capital ratio | 0.40 | 0.40 | 0.24 | 0.29 | 0.37 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,047,000K ÷ ($2,047,000K + $3,036,000K)
= 0.40
The debt-to-capital ratio of Zebra Technologies Corp has fluctuated over the past five years, ranging from 0.25 to 0.43. The ratio indicates the proportion of the company's capital that is funded by debt, with a higher ratio suggesting a higher reliance on debt financing.
In 2021, the debt-to-capital ratio was relatively low at 0.25, indicating that only 25% of the company's capital was financed by debt. This suggests a conservative approach to debt financing that year. However, in 2022, the ratio increased to 0.43, reflecting a significant rise in the portion of capital funded by debt.
The most recent data for 2023 shows the ratio at 0.42, indicating a slight decrease from the previous year but still higher than the 2021 level. This suggests that Zebra Technologies Corp continues to maintain a significant reliance on debt financing to support its operations and growth initiatives.
Overall, the trend in the debt-to-capital ratio of Zebra Technologies Corp over the past five years indicates some variability in the company's capital structure and financing choices. Further analysis would be needed to understand the factors driving these changes and their implications for the company's financial health and risk profile.
Peer comparison
Dec 31, 2023