DEBT TO CAPITAL RATIO
Kaye's Kitchenware has a market/book ratio equal to 1. Its stock price is $15 per share and it has 4.9 million shares outstanding. The firm's total capital is $135 million and it finances with only debt and common equity. What is its debt-to-capital ratio? Round your answer to two decimal places.

%
debt to capital = 1- equity to capital ratio ( because only debt and equity are used for financing)
equity to capital ratio = equity value/total capital
equity value = stock price per share * no. of outstanding shares
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