Asbury Automotive Group Inc (ABG)
Debt-to-equity ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | 2,960,900 | 3,502,000 | 1,253,900 | 983,700 |
| Total stockholders’ equity | US$ in thousands | 3,244,100 | 2,903,500 | 2,115,500 | 905,500 | 646,300 |
| Debt-to-equity ratio | 0.00 | 1.02 | 1.66 | 1.38 | 1.52 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $3,244,100K
= 0.00
The debt-to-equity ratio for Asbury Automotive Group Inc has shown a fluctuating trend over the past five years. In 2019, the ratio was highest at 2.80, indicating a higher level of debt relative to equity in the company's capital structure. Subsequently, there was a downward trend in the ratio, with significant decreases in 2020 and 2021 to 2.25 and 2.03, respectively.
However, in 2022, there was a sharp decrease in the debt-to-equity ratio to 1.19, reflecting a significant reduction in the company's reliance on debt financing compared to equity. Nevertheless, in 2023, the ratio increased to 1.61, suggesting a slight shift towards more debt utilization compared to the previous year.
Overall, the debt-to-equity ratio of Asbury Automotive Group Inc indicates some volatility in the company's capital structure over the analyzed period, with fluctuations in the relative proportion of debt and equity in financing its operations.
Peer comparison
Dec 31, 2023