Asbury Automotive Group Inc (ABG)

Debt-to-assets ratio

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Long-term debt US$ in thousands — 2,912,100 3,001,200 3,038,000 2,960,900 2,865,800 3,025,500 3,291,000 3,502,000 1,394,300 1,404,400 1,215,500 1,253,900 1,243,800 989,200 854,200 983,700 922,100 927,400 922,400
Total assets US$ in thousands 10,159,400 8,255,000 8,165,900 8,182,800 8,021,400 7,816,300 7,638,800 7,860,100 8,002,600 3,571,400 3,524,900 3,582,300 3,676,300 3,530,600 2,934,400 3,069,200 2,911,300 2,816,500 2,814,000 2,904,900
Debt-to-assets ratio 0.00 0.35 0.37 0.37 0.37 0.37 0.40 0.42 0.44 0.39 0.40 0.34 0.34 0.35 0.34 0.28 0.34 0.33 0.33 0.32

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $10,159,400K
= 0.00

The debt-to-assets ratio for Asbury Automotive Group Inc has shown some fluctuations over the past eight quarters. The ratio has ranged from a low of 0.40 in Q2 and Q3 of 2023 to a high of 0.51 in Q4 of 2023. A lower ratio indicates lower financial leverage and less reliance on debt financing, while a higher ratio suggests a higher proportion of assets being funded by debt.

Overall, the trend in the debt-to-assets ratio has been relatively stable, hovering around the 0.40 to 0.48 range in recent quarters. It is important for investors and stakeholders to closely monitor this ratio to assess the company's ability to meet its financial obligations and manage its debt levels effectively.