Stock Analysis on Net
AI Tokens
Stock Analysis on Net

Hubbell Inc. (NYSE:HUBB)

This company has been moved to the archive! The financial data has not been updated since November 1, 2023.

Debt to Equity
since 2005

Microsoft Excel

Calculation

Hubbell Inc., debt to equity, long-term trends, calculation

Microsoft Excel
Debt to equity = Total debt1 ÷ Total Hubbell Incorporated shareholders’ equity1
Dec 31, 2022 0.61 = 1,442,600 ÷ 2,360,900
Dec 31, 2021 0.65 = 1,445,200 ÷ 2,229,800
Dec 31, 2020 0.77 = 1,590,000 ÷ 2,070,000
Dec 31, 2019 0.81 = 1,571,400 ÷ 1,947,100
Dec 31, 2018 1.01 = 1,793,200 ÷ 1,780,600
Dec 31, 2017 0.65 = 1,055,200 ÷ 1,634,200
Dec 31, 2016 0.62 = 993,700 ÷ 1,592,800
Dec 31, 2015 0.37 = 644,100 ÷ 1,740,600
Dec 31, 2014 0.31 = 599,000 ÷ 1,927,100
Dec 31, 2013 0.31 = 597,500 ÷ 1,906,400
Dec 31, 2012 0.36 = 596,700 ÷ 1,661,200
Dec 31, 2011 0.41 = 599,200 ÷ 1,467,800
Dec 31, 2010 0.41 = 597,700 ÷ 1,459,200
Dec 31, 2009 0.38 = 497,200 ÷ 1,298,200
Dec 31, 2008 0.49 = 497,400 ÷ 1,008,100
Dec 31, 2007 0.22 = 236,100 ÷ 1,082,600
Dec 31, 2006 0.22 = 220,200 ÷ 1,015,500
Dec 31, 2005 0.23 = 228,800 ÷ 998,100

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 thousands

The financial structure exhibits a multi-stage evolution in leverage from 2005 to 2022, characterized by an initial period of stability, a significant surge in debt accumulation, and a subsequent phase of deleveraging.

Early Stability and Initial Volatility (2005–2014)
Between 2005 and 2007, the debt-to-equity ratio remained consistently low, ranging from 0.22 to 0.23. A sharp increase to 0.49 occurred in 2008, coinciding with a doubling of total debt from approximately 236 million to 497 million. Following this spike, the ratio trended generally downward, reaching a low of 0.31 by 2013 and 2014, as shareholders' equity grew more rapidly than debt obligations.
Aggressive Leverage Expansion (2015–2018)
A period of substantial debt growth began in 2015, with total debt rising from 644 million to a peak of 1.79 billion by 2018. This trajectory led to a sharp increase in the debt-to-equity ratio, which climbed from 0.37 in 2014 to a peak of 1.01 in 2018. At this juncture, total debt obligations slightly exceeded total shareholders' equity, marking the highest level of financial leverage in the observed period.
Deleveraging and Balance Sheet Optimization (2019–2022)
From 2019 onward, a consistent trend of deleveraging is observed. Total debt decreased from the 2018 peak to 1.44 billion by 2022, while shareholders' equity continued a steady upward trajectory, increasing from 1.78 billion in 2018 to 2.36 billion in 2022. Consequently, the debt-to-equity ratio declined steadily from 1.01 to 0.61, indicating a strategic shift toward a more conservative capital structure.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?

Comparison to Competitors

Hubbell Inc., debt to equity, long-term trends, comparison to competitors

Microsoft Excel
Hubbell Inc. Boeing Co. Caterpillar Inc. Eaton Corp. plc GE Aerospace Honeywell International Inc. Lockheed Martin Corp. RTX Corp.
Dec 31, 2022 0.61 — 2.33 0.51 0.89 1.17 1.68 0.44
Dec 31, 2021 0.65 — 2.29 0.52 0.87 1.06 1.07 0.43
Dec 31, 2020 0.77 — 2.42 0.54 2.11 1.28 2.02 0.44
Dec 31, 2019 0.81 — 2.58 0.52 3.21 0.87 4.05 1.04
Dec 31, 2018 1.01 40.85 2.60 0.47 3.55 0.89 9.04 1.18
Dec 31, 2017 0.65 31.32 2.55 0.45 2.09 1.04 — 0.93
Dec 31, 2016 0.62 12.18 2.80 0.56 1.80 0.81 9.45 0.87
Dec 31, 2015 0.37 1.57 2.57 0.56 2.02 0.66 4.62 0.75
Dec 31, 2014 0.31 1.05 2.35 0.57 2.85 0.49 1.81 0.63
Dec 31, 2013 0.31 0.65 1.81 0.57 2.93 0.51 1.25 0.64
Dec 31, 2012 0.36 1.77 2.29 0.72 3.37 0.58 157.90 0.90
Dec 31, 2011 0.41 3.52 2.69 0.51 3.89 0.70 6.45 0.47
Dec 31, 2010 0.41 4.49 2.63 0.47 4.02 0.62 1.35 0.48
Dec 31, 2009 0.38 6.07 3.62 0.51 4.35 0.86 1.22 0.49
Dec 31, 2008 0.49 — 5.84 0.68 5.00 1.17 1.24 0.72
Dec 31, 2007 0.22 0.91 3.20 0.66 4.45 0.83 0.44 0.43
Dec 31, 2006 0.22 2.01 3.98 0.63 3.85 0.52 0.64 0.46
Dec 31, 2005 0.23 0.97 3.05 0.65 3.39 0.45 0.61 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 (Capital Goods)

Hubbell Inc., debt to equity, long-term trends, comparison to sector (capital goods)

Microsoft Excel
Hubbell Inc. Capital Goods
Dec 31, 2022 0.61 1.33
Dec 31, 2021 0.65 1.26
Dec 31, 2020 0.77 1.75
Dec 31, 2019 0.81 2.08
Dec 31, 2018 1.01 2.03
Dec 31, 2017 0.65 1.74
Dec 31, 2016 0.62 1.60
Dec 31, 2015 0.37 1.64
Dec 31, 2014 0.31 2.06
Dec 31, 2013 0.31 2.00
Dec 31, 2012 0.36 2.56
Dec 31, 2011 0.41 3.04
Dec 31, 2010 0.41 3.10
Dec 31, 2009 0.38 3.46
Dec 31, 2008 0.49 4.19
Dec 31, 2007 0.22 3.21
Dec 31, 2006 0.22 3.02
Dec 31, 2005 0.23 2.53

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 (Industrials)

Hubbell Inc., debt to equity, long-term trends, comparison to industry (industrials)

Microsoft Excel
Hubbell Inc. Industrials
Dec 31, 2022 0.61 1.42
Dec 31, 2021 0.65 1.37
Dec 31, 2020 0.77 1.82
Dec 31, 2019 0.81 1.82
Dec 31, 2018 1.01 1.85
Dec 31, 2017 0.65 1.65
Dec 31, 2016 0.62 1.54
Dec 31, 2015 0.37 1.51
Dec 31, 2014 0.31 1.89
Dec 31, 2013 0.31 1.79
Dec 31, 2012 0.36 2.29
Dec 31, 2011 0.41 2.60
Dec 31, 2010 0.41 2.68
Dec 31, 2009 0.38 3.01
Dec 31, 2008 0.49 3.54
Dec 31, 2007 0.22 2.73
Dec 31, 2006 0.22 2.49
Dec 31, 2005 0.23 2.42

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).