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A ratio that measures the level of the debt relative to the book value of common equity.
Debt / Equity is defined as:
Total Debt
(/) Total Common Equity
(=) Debt / Equity
Debt / Equity for New Gold is calculated as follows:
Total Debt [ 399.7 M]
(/) Total Common Equity [ 1.052 B ]
(=) Debt / Equity [ 38.0% ]
The tables below summarizes the trend in New Gold’s Debt / Equity over the last five years:
| Fiscal Year | Total Debt | Total Common Equity | Debt / Equity |
|---|---|---|---|
| 2020-12-31 | 518.3 M | 789.3 M | 65.7% |
| 2021-12-31 | 511.3 M | 955.9 M | 53.5% |
| 2022-12-31 | 404.8 M | 959.5 M | 42.2% |
| 2023-12-31 | 401.2 M | 789.2 M | 50.8% |
| 2024-12-31 | 399.7 M | 1.052 B | 38.0% |
The tables below summarizes the trend in New Gold’s Debt / Equity over the last four quarters:
| Fiscal Quarter | Total Debt | Total Common Equity | Debt / Equity |
|---|---|---|---|
| 2024-03-31 | 400 M | 736.4 M | 54.3% |
| 2024-06-30 | 499.7 M | 952.8 M | 52.4% |
| 2024-09-30 | 449.9 M | 997.2 M | 45.1% |
| 2024-12-31 | 399.7 M | 1.052 B | 38.0% |
The higher the ratio, the more debt the company has in its capital structure.
Read More on HBR: Debt / Equity Ratio
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