Debt to Equity
since 2005
Calculation
Paramount Global, debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Total Paramount stockholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 0.69 | = | 15,846) | ÷ | 23,036) |
| Dec 31, 2021 | 0.79 | = | 17,709) | ÷ | 22,402) |
| Dec 31, 2020 | 1.28 | = | 19,733) | ÷ | 15,371) |
| Dec 31, 2019 | 1.42 | = | 18,719) | ÷ | 13,207) |
| Dec 31, 2018 | 3.62 | = | 10,152) | ÷ | 2,804) |
| Dec 31, 2017 | 5.14 | = | 10,162) | ÷ | 1,978) |
| Dec 31, 2016 | 2.54 | = | 9,375) | ÷ | 3,689) |
| Dec 31, 2015 | 1.52 | = | 8,448) | ÷ | 5,563) |
| Dec 31, 2014 | 1.03 | = | 7,146) | ÷ | 6,970) |
| Dec 31, 2013 | 0.65 | = | 6,436) | ÷ | 9,966) |
| Dec 31, 2012 | 0.58 | = | 5,922) | ÷ | 10,213) |
| Dec 31, 2011 | 0.60 | = | 5,982) | ÷ | 9,908) |
| Dec 31, 2010 | 0.61 | = | 6,001) | ÷ | 9,821) |
| Dec 31, 2009 | 0.78 | = | 6,997) | ÷ | 9,019) |
| Dec 31, 2008 | 0.81 | = | 6,996) | ÷ | 8,597) |
| Dec 31, 2007 | 0.33 | = | 7,088) | ÷ | 21,472) |
| Dec 31, 2006 | 0.30 | = | 7,042) | ÷ | 23,523) |
| Dec 31, 2005 | 0.36 | = | 7,900) | ÷ | 21,737) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The organization's capital structure experienced significant volatility between 2005 and 2022, characterized by a period of aggressive leverage escalation followed by a substantial recovery in equity. The overall trajectory shows a transition from a conservative debt position to a high-risk leverage peak in 2017, eventually returning to a more balanced financial profile by 2022.
- Total Debt Trajectory
- Debt levels remained relatively stable between 2005 and 2013, generally fluctuating between $5.9 billion and $7.9 billion. A period of rapid debt accumulation began in 2014, with total debt rising from $7.15 billion to a peak of $19.73 billion in 2020. Following this peak, a moderate reduction is observed, with debt declining to $15.85 billion by the end of 2022.
- Stockholders' Equity Variance
- Equity levels exhibited extreme fluctuations. A significant contraction occurred between 2007 and 2017, where equity dropped from $21.47 billion to a minimum of $1.98 billion. This downward trend reversed sharply starting in 2019, with equity surging to $23.04 billion by 2022, marking a full recovery and an increase over the 2005 baseline.
- Debt to Equity Ratio Analysis
- The debt to equity ratio reflects three distinct financial phases. From 2005 to 2007, the company maintained a low-leverage position with ratios between 0.30 and 0.36. Between 2014 and 2018, the ratio experienced a dramatic escalation, peaking at 5.14 in 2017, indicating that total debt was more than five times the value of stockholders' equity. In the final phase from 2019 to 2022, the ratio declined consistently, ending at 0.69, which suggests a significant reduction in financial risk and a stronger equity cushion.
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Comparison to Competitors
Paramount Global, debt to equity, long-term trends, comparison to competitors
| Paramount Global | Alphabet Inc. | Comcast Corp. | Meta Platforms Inc. | Netflix Inc. | Walt Disney Co. | |
|---|---|---|---|---|---|---|
| Dec 31, 2022 | 0.69 | 0.06 | 1.17 | 0.08 | 0.69 | 0.51 |
| Dec 31, 2021 | 0.79 | 0.06 | 0.99 | 0.00 | 0.97 | 0.61 |
| Dec 31, 2020 | 1.28 | 0.06 | 1.15 | 0.00 | 1.47 | 0.70 |
| Dec 31, 2019 | 1.42 | 0.02 | 1.24 | 0.00 | 1.95 | 0.53 |
| Dec 31, 2018 | 3.62 | 0.02 | 1.56 | 0.00 | 1.98 | 0.43 |
| Dec 31, 2017 | 5.14 | 0.03 | 0.94 | 0.00 | 1.81 | 0.61 |
| Dec 31, 2016 | 2.54 | 0.03 | 1.13 | 0.00 | 1.26 | 0.47 |
| Dec 31, 2015 | 1.52 | 0.04 | 1.01 | 0.00 | 1.07 | 0.39 |
| Dec 31, 2014 | 1.03 | 0.05 | 0.92 | 0.01 | 0.48 | 0.33 |
| Dec 31, 2013 | 0.65 | 0.06 | 0.94 | 0.03 | 0.37 | 0.31 |
| Dec 31, 2012 | 0.58 | 0.08 | 0.82 | 0.20 | 0.54 | 0.36 |
| Dec 31, 2011 | 0.60 | 0.07 | 0.83 | — | 0.62 | 0.37 |
| Dec 31, 2010 | 0.61 | 0.07 | 0.71 | — | 0.69 | 0.33 |
| Dec 31, 2009 | 0.78 | 0.00 | 0.68 | — | 1.00 | 0.38 |
| Dec 31, 2008 | 0.81 | 0.00 | 0.80 | — | 0.00 | 0.45 |
| Dec 31, 2007 | 0.33 | 0.00 | 0.76 | — | 0.00 | 0.49 |
| Dec 31, 2006 | 0.30 | 0.00 | 0.70 | — | 0.00 | 0.43 |
| Dec 31, 2005 | 0.36 | 0.00 | 0.58 | — | 0.00 | 0.48 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Media & Entertainment)
Paramount Global, debt to equity, long-term trends, comparison to sector (media & entertainment)
| Paramount Global | Media & Entertainment | |
|---|---|---|
| Dec 31, 2022 | 0.69 | 0.31 |
| Dec 31, 2021 | 0.79 | 0.31 |
| Dec 31, 2020 | 1.28 | 0.36 |
| Dec 31, 2019 | 1.42 | 0.35 |
| Dec 31, 2018 | 3.62 | 0.38 |
| Dec 31, 2017 | 5.14 | 0.29 |
| Dec 31, 2016 | 2.54 | 0.30 |
| Dec 31, 2015 | 1.52 | 0.29 |
| Dec 31, 2014 | 1.03 | 0.29 |
| Dec 31, 2013 | 0.65 | 0.34 |
| Dec 31, 2012 | 0.58 | 0.36 |
| Dec 31, 2011 | 0.60 | 0.40 |
| Dec 31, 2010 | 0.61 | 0.37 |
| Dec 31, 2009 | 0.78 | 0.37 |
| Dec 31, 2008 | 0.81 | 0.46 |
| Dec 31, 2007 | 0.33 | 0.49 |
| Dec 31, 2006 | 0.30 | 0.47 |
| Dec 31, 2005 | 0.36 | 0.47 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Communication Services)
Paramount Global, debt to equity, long-term trends, comparison to industry (communication services)
| Paramount Global | Communication Services | |
|---|---|---|
| Dec 31, 2022 | 0.69 | 0.65 |
| Dec 31, 2021 | 0.79 | 0.65 |
| Dec 31, 2020 | 1.28 | 0.67 |
| Dec 31, 2019 | 1.42 | 0.62 |
| Dec 31, 2018 | 3.62 | 0.71 |
| Dec 31, 2017 | 5.14 | 0.75 |
| Dec 31, 2016 | 2.54 | 0.75 |
| Dec 31, 2015 | 1.52 | 0.81 |
| Dec 31, 2014 | 1.03 | 0.81 |
| Dec 31, 2013 | 0.65 | 0.75 |
| Dec 31, 2012 | 0.58 | 0.62 |
| Dec 31, 2011 | 0.60 | 0.62 |
| Dec 31, 2010 | 0.61 | 0.60 |
| Dec 31, 2009 | 0.78 | 0.69 |
| Dec 31, 2008 | 0.81 | 0.73 |
| Dec 31, 2007 | 0.33 | 0.54 |
| Dec 31, 2006 | 0.30 | 0.54 |
| Dec 31, 2005 | 0.36 | 0.62 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).