Acadia Healthcare Company Inc (ACHC)

Financial leverage 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
Total assets	US$ in thousands	5,358,840	5,346,220	5,150,210	5,044,260	4,987,900	4,943,100	4,882,640	4,834,640	4,768,080	4,594,730	4,564,000	4,526,920	6,499,360	7,105,140	6,833,230	6,718,000	6,879,140	6,728,120	6,790,420	6,785,520
Total stockholders’ equity	US$ in thousands	2,781,970	2,712,560	2,921,020	2,839,600	2,812,730	2,743,710	2,663,040	2,574,510	2,517,490	2,434,450	2,356,590	2,298,000	1,899,460	2,606,640	2,503,340	2,464,170	2,505,380	2,420,690	2,422,350	2,403,340
Financial leverage ratio		1.93	1.97	1.76	1.78	1.77	1.80	1.83	1.88	1.89	1.89	1.94	1.97	3.42	2.73	2.73	2.73	2.75	2.78	2.80	2.82

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $5,358,840K ÷ $2,781,970K
= 1.93

The financial leverage ratio of Acadia Healthcare Company Inc has shown some fluctuations over the past eight quarters. The ratio was highest in Q3 2023 at 1.97 and lowest in Q2 2023 at 1.76. Generally, the company's financial leverage has been within a relatively narrow range between 1.76 and 1.97 during this period.

A financial leverage ratio above 1 indicates that the company predominantly relies on debt to finance its operations and growth. Acadia Healthcare's ratios above 1.7 suggest a significant portion of its assets are funded by debt rather than equity.

Although the ratios have been fluctuating, there isn't a clear trend indicating a consistent increase or decrease in the company's leverage over the past two years. It would be beneficial for stakeholders to monitor this ratio over time to assess the company's risk of financial distress and its ability to meet its debt obligations.