Debt to Equity
since 2005
Calculation
DuPont de Nemours Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Total DuPont stockholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2019 | 0.43 | = | 17,447) | ÷ | 40,987) |
| Dec 31, 2018 | 0.43 | = | 40,464) | ÷ | 94,571) |
| Dec 31, 2017 | 0.34 | = | 34,071) | ÷ | 100,330) |
| Dec 31, 2016 | 0.82 | = | 21,363) | ÷ | 25,987) |
| Dec 31, 2015 | 0.68 | = | 17,210) | ÷ | 25,374) |
| Dec 31, 2014 | 0.88 | = | 19,783) | ÷ | 22,423) |
| Dec 31, 2013 | 0.67 | = | 17,960) | ÷ | 26,898) |
| Dec 31, 2012 | 1.01 | = | 20,987) | ÷ | 20,877) |
| Dec 31, 2011 | 0.97 | = | 21,600) | ÷ | 22,281) |
| Dec 31, 2010 | 1.09 | = | 23,827) | ÷ | 21,839) |
| Dec 31, 2009 | 1.09 | = | 22,373) | ÷ | 20,555) |
| Dec 31, 2008 | 0.88 | = | 11,856) | ÷ | 13,511) |
| Dec 31, 2007 | 0.50 | = | 9,715) | ÷ | 19,389) |
| Dec 31, 2006 | 0.56 | = | 9,546) | ÷ | 17,065) |
| Dec 31, 2005 | 0.70 | = | 10,706) | ÷ | 15,324) |
Based on: 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 capital structure of the entity underwent significant transformations between 2005 and 2019, characterized by fluctuating leverage levels and a major reconfiguration of equity in the latter period. The debt-to-equity ratio serves as the primary indicator of these shifts, moving from a moderate position to a peak in leverage, and finally to a more conservative profile.
- Initial Deleveraging and Volatility (2005–2010)
- Between 2005 and 2007, a downward trend in the debt-to-equity ratio was observed, declining from 0.70 to 0.50. This was driven by a simultaneous reduction in total debt and a steady increase in stockholders' equity. However, this trend reversed sharply starting in 2008. Total debt increased from 11,856 million USD in 2008 to 23,827 million USD by 2010, causing the debt-to-equity ratio to peak at 1.09 for two consecutive years. This period represents the highest relative leverage observed in the analyzed timeframe.
- Stabilization Phase (2011–2016)
- From 2011 to 2016, the leverage ratio experienced intermittent fluctuations but generally remained within a range of 0.67 to 1.01. Total debt fluctuated between approximately 17,210 million USD and 21,600 million USD, while stockholders' equity remained relatively stable, hovering between 20,877 million USD and 26,898 million USD. The ratio reached a local minimum of 0.67 in 2013 before returning to 0.82 by 2016.
- Structural Capital Realignment (2017–2019)
- A fundamental shift in the balance sheet occurred in 2017, marked by a substantial increase in stockholders' equity, which rose from 25,987 million USD in 2016 to 100,330 million USD in 2017. This surge resulted in the debt-to-equity ratio dropping to its lowest point of 0.34. Although total debt reached its absolute peak of 40,464 million USD in 2018, the massive equity base maintained the ratio at a low level of 0.43. By 2019, total debt was significantly reduced to 17,447 million USD, while equity decreased to 40,987 million USD, leaving the debt-to-equity ratio stable at 0.43.
Overall, the trajectory indicates a move from a balanced leverage position to a period of aggressive debt accumulation, followed by a systemic recapitalization that substantially lowered the entity's reliance on debt relative to equity by the end of the period.
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Comparison to Competitors
DuPont de Nemours Inc., debt to equity, long-term trends, comparison to competitors
| DuPont de Nemours Inc. | Linde plc | Sherwin-Williams Co. | |
|---|---|---|---|
| Dec 31, 2019 | 0.43 | 0.28 | 2.11 |
| Dec 31, 2018 | 0.43 | 0.30 | 2.50 |
| Dec 31, 2017 | 0.34 | 1.50 | 2.85 |
| Dec 31, 2016 | 0.82 | 1.90 | 1.04 |
| Dec 31, 2015 | 0.68 | 2.10 | 2.26 |
| Dec 31, 2014 | 0.88 | 1.65 | 1.81 |
| Dec 31, 2013 | 0.67 | 1.33 | 0.97 |
| Dec 31, 2012 | 1.01 | 1.21 | 0.95 |
| Dec 31, 2011 | 0.97 | 1.20 | 0.65 |
| Dec 31, 2010 | 1.09 | 0.96 | 0.65 |
| Dec 31, 2009 | 1.09 | 0.95 | 0.55 |
| Dec 31, 2008 | 0.88 | 1.25 | 0.52 |
| Dec 31, 2007 | 0.50 | 0.82 | 0.54 |
| Dec 31, 2006 | 0.56 | 0.70 | 0.44 |
| Dec 31, 2005 | 0.70 | 0.88 | 0.36 |
Based on: 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 (Chemicals)
DuPont de Nemours Inc., debt to equity, long-term trends, comparison to sector (chemicals)
| DuPont de Nemours Inc. | Chemicals | |
|---|---|---|
| Dec 31, 2019 | 0.43 | 0.43 |
| Dec 31, 2018 | 0.43 | 0.45 |
| Dec 31, 2017 | 0.34 | 2.01 |
| Dec 31, 2016 | 0.82 | 1.66 |
| Dec 31, 2015 | 0.68 | 2.13 |
| Dec 31, 2014 | 0.88 | 1.67 |
| Dec 31, 2013 | 0.67 | 1.26 |
| Dec 31, 2012 | 1.01 | 1.15 |
| Dec 31, 2011 | 0.97 | 1.08 |
| Dec 31, 2010 | 1.09 | 0.89 |
| Dec 31, 2009 | 1.09 | 0.86 |
| Dec 31, 2008 | 0.88 | 1.04 |
| Dec 31, 2007 | 0.50 | 0.74 |
| Dec 31, 2006 | 0.56 | 0.62 |
| Dec 31, 2005 | 0.70 | 0.72 |
Based on: 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 (Materials)
DuPont de Nemours Inc., debt to equity, long-term trends, comparison to industry (materials)
| DuPont de Nemours Inc. | Materials | |
|---|---|---|
| Dec 31, 2019 | 0.43 | 0.52 |
| Dec 31, 2018 | 0.43 | 0.55 |
| Dec 31, 2017 | 0.34 | 1.85 |
| Dec 31, 2016 | 0.82 | 2.12 |
| Dec 31, 2015 | 0.68 | 2.42 |
| Dec 31, 2014 | 0.88 | 1.21 |
| Dec 31, 2013 | 0.67 | 1.07 |
| Dec 31, 2012 | 1.01 | 0.50 |
| Dec 31, 2011 | 0.97 | 0.49 |
| Dec 31, 2010 | 1.09 | 0.57 |
| Dec 31, 2009 | 1.09 | 0.77 |
| Dec 31, 2008 | 0.88 | 1.16 |
| Dec 31, 2007 | 0.50 | 0.49 |
| Dec 31, 2006 | 0.56 | 0.53 |
| Dec 31, 2005 | 0.70 | 0.71 |
Based on: 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).