Debt to Equity
since 2005
Calculation
Mosaic Co., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Total Mosaic stockholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2021 | 0.47 | = | 5,025,300) | ÷ | 10,604,100) |
| Dec 31, 2020 | 0.54 | = | 5,218,100) | ÷ | 9,581,400) |
| Dec 31, 2019 | 0.58 | = | 5,354,900) | ÷ | 9,185,500) |
| Dec 31, 2018 | 0.49 | = | 5,101,800) | ÷ | 10,397,300) |
| Dec 31, 2017 | 0.58 | = | 5,613,900) | ÷ | 9,617,500) |
| Dec 31, 2016 | 0.41 | = | 3,947,000) | ÷ | 9,584,600) |
| Dec 31, 2015 | 0.46 | = | 4,341,300) | ÷ | 9,531,800) |
| Dec 31, 2014 | 0.38 | = | 4,070,200) | ÷ | 10,703,100) |
| May 31, 2013 | 0.08 | = | 1,079,200) | ÷ | 13,425,400) |
| May 31, 2012 | 0.09 | = | 1,053,000) | ÷ | 11,983,100) |
| May 31, 2011 | 0.07 | = | 832,900) | ÷ | 11,641,600) |
| May 31, 2010 | 0.15 | = | 1,343,900) | ÷ | 8,722,200) |
| May 31, 2009 | 0.16 | = | 1,392,100) | ÷ | 8,493,000) |
| May 31, 2008 | 0.23 | = | 1,550,400) | ÷ | 6,731,200) |
| May 31, 2007 | 0.56 | = | 2,358,600) | ÷ | 4,183,900) |
| May 31, 2006 | 0.74 | = | 2,606,700) | ÷ | 3,530,800) |
| May 31, 2005 | 0.83 | = | 2,660,100) | ÷ | 3,213,500) |
Based on: 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: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).
1 US$ in thousands
The financial trajectory of the capital structure reveals three distinct phases: a period of aggressive deleveraging, a sharp increase in leverage, and a subsequent period of relative stabilization.
- Deleveraging Phase (2005–2011)
- A consistent downward trend in the debt-to-equity ratio was observed during this interval, declining from 0.83 in 2005 to a minimum of 0.07 by 2011. This trend was driven by the simultaneous reduction of total debt, which fell from $2.66 billion to $832.9 million, and a substantial expansion of stockholders' equity, which grew from $3.21 billion to $11.64 billion.
- Capital Structure Shift (2012–2017)
- A significant reversal in leverage occurred beginning in 2014. Total debt increased sharply from $1.08 billion in 2013 to $4.07 billion in 2014, eventually peaking at $5.61 billion in 2017. This increase in liabilities coincided with a contraction in stockholders' equity, which declined from a high of $13.43 billion in 2013 to $9.62 billion by 2017. As a result, the debt-to-equity ratio rose from 0.08 in 2013 to 0.58 in 2017.
- Stabilization Phase (2018–2021)
- In the final period, the company maintained a more stable financial leverage profile. Total debt fluctuated within a narrow range between $5.03 billion and $5.35 billion, while stockholders' equity showed moderate volatility, concluding at $10.60 billion in 2021. The debt-to-equity ratio remained relatively constant, oscillating between 0.47 and 0.58, suggesting a settled approach to the balance of debt and equity financing.
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Comparison to Competitors
Mosaic Co., debt to equity, long-term trends, comparison to competitors
| Mosaic Co. | Linde plc | Sherwin-Williams Co. | |
|---|---|---|---|
| Dec 31, 2021 | 0.47 | 0.32 | 3.95 |
| Dec 31, 2020 | 0.54 | 0.34 | 2.30 |
| Dec 31, 2019 | 0.58 | 0.28 | 2.11 |
| Dec 31, 2018 | 0.49 | 0.30 | 2.50 |
| Dec 31, 2017 | 0.58 | 1.50 | 2.85 |
| Dec 31, 2016 | 0.41 | 1.90 | 1.04 |
| Dec 31, 2015 | 0.46 | 2.10 | 2.26 |
| Dec 31, 2014 | 0.38 | 1.65 | 1.81 |
| May 31, 2013 | 0.08 | 1.33 | 0.97 |
| May 31, 2012 | 0.09 | 1.21 | 0.95 |
| May 31, 2011 | 0.07 | 1.20 | 0.65 |
| May 31, 2010 | 0.15 | 0.96 | 0.65 |
| May 31, 2009 | 0.16 | 0.95 | 0.55 |
| May 31, 2008 | 0.23 | 1.25 | 0.52 |
| May 31, 2007 | 0.56 | 0.82 | 0.54 |
| May 31, 2006 | 0.74 | 0.70 | 0.44 |
| May 31, 2005 | 0.83 | 0.88 | 0.36 |
Based on: 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: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).
Comparison to Sector (Chemicals)
Mosaic Co., debt to equity, long-term trends, comparison to sector (chemicals)
| Mosaic Co. | Chemicals | |
|---|---|---|
| Dec 31, 2021 | 0.47 | 0.51 |
| Dec 31, 2020 | 0.54 | 0.48 |
| Dec 31, 2019 | 0.58 | 0.43 |
| Dec 31, 2018 | 0.49 | 0.45 |
| Dec 31, 2017 | 0.58 | 2.01 |
| Dec 31, 2016 | 0.41 | 1.66 |
| Dec 31, 2015 | 0.46 | 2.13 |
| Dec 31, 2014 | 0.38 | 1.67 |
| May 31, 2013 | 0.08 | 1.26 |
| May 31, 2012 | 0.09 | 1.15 |
| May 31, 2011 | 0.07 | 1.08 |
| May 31, 2010 | 0.15 | 0.89 |
| May 31, 2009 | 0.16 | 0.86 |
| May 31, 2008 | 0.23 | 1.04 |
| May 31, 2007 | 0.56 | 0.74 |
| May 31, 2006 | 0.74 | 0.62 |
| May 31, 2005 | 0.83 | 0.72 |
Based on: 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: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).
Comparison to Industry (Materials)
Mosaic Co., debt to equity, long-term trends, comparison to industry (materials)
| Mosaic Co. | Materials | |
|---|---|---|
| Dec 31, 2021 | 0.47 | 0.55 |
| Dec 31, 2020 | 0.54 | 0.56 |
| Dec 31, 2019 | 0.58 | 0.52 |
| Dec 31, 2018 | 0.49 | 0.55 |
| Dec 31, 2017 | 0.58 | 1.85 |
| Dec 31, 2016 | 0.41 | 2.12 |
| Dec 31, 2015 | 0.46 | 2.42 |
| Dec 31, 2014 | 0.38 | 1.21 |
| May 31, 2013 | 0.08 | 1.07 |
| May 31, 2012 | 0.09 | 0.50 |
| May 31, 2011 | 0.07 | 0.49 |
| May 31, 2010 | 0.15 | 0.57 |
| May 31, 2009 | 0.16 | 0.77 |
| May 31, 2008 | 0.23 | 1.16 |
| May 31, 2007 | 0.56 | 0.49 |
| May 31, 2006 | 0.74 | 0.53 |
| May 31, 2005 | 0.83 | 0.71 |
Based on: 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: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).