Covestro AG (MIL:11COV) Debt-to-Equity : 0.51 (As of Dec. 2023)

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What is Covestro AG Debt-to-Equity?

Covestro AG's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was €651 Mil. Covestro AG's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was €2,739 Mil. Covestro AG's Total Stockholders Equity for the quarter that ended in Dec. 2023 was €6,590 Mil. Covestro AG's debt to equity for the quarter that ended in Dec. 2023 was 0.51.

A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.

The historical rank and industry rank for Covestro AG's Debt-to-Equity or its related term are showing as below:

MIL:11COV' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.22 Med: 0.39 Max: 0.52
Current: 0.51

During the past 12 years, the highest Debt-to-Equity Ratio of Covestro AG was 0.52. The lowest was 0.22. And the median was 0.39.

MIL:11COV's Debt-to-Equity is ranked worse than
62.14% of 1392 companies
in the Chemicals industry
Industry Median: 0.35 vs MIL:11COV: 0.51

Covestro AG Debt-to-Equity Historical Data

The historical data trend for Covestro AG's Debt-to-Equity can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Covestro AG Debt-to-Equity Chart

Covestro AG Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Debt-to-Equity

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0.34

0.52

0.33

0.52

0.51

Covestro AG Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Debt-to-Equity	Get a 7-Day Free Trial															0.52	0.55	0.56	0.52	0.51

Competitive Comparison of Covestro AG's Debt-to-Equity

For the Specialty Chemicals subindustry, Covestro AG's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Covestro AG's Debt-to-Equity Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Covestro AG's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where Covestro AG's Debt-to-Equity falls into.

Covestro AG Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Covestro AG's Debt to Equity Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(651	+	2739)	/	6590
	=	0.51

Covestro AG's Debt to Equity Ratio for the quarter that ended in Dec. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(651	+	2739)	/	6590
	=	0.51

Covestro AG (MIL:11COV) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.

Be Aware

Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.

Covestro AG Debt-to-Equity Related Terms

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Covestro AG (MIL:11COV) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Covestro AG (MIL:11COV) » Definitions » Debt-to-Equity

Comparable Companies

Traded in Other Exchanges

COVTY:USA CVVTF:USA 1COVd:UK 0RBE:UK 1COV:Germany 1COV:Austria

Address

Kaiser-Wilhelm-Allee 60, Leverkusen, NW, DEU, 51373

Website

https://www.covestro.com/en

Covestro, formerly Bayer Material Science, was spun off from the Bayer Group in 2015. The firm is a market leader in polyurethanes and polycarbonates, products that the company discovered in the mid-20th century. It also has a sizable speciality chemicals business that is focused on coatings and adhesives. Demand for Covestro's products is driven primarily by cyclical end markets, such as automotive, construction, and furniture.

Covestro AG (MIL:11COV) Headlines

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