Addus HomeCare Corporation (ADUS)
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 | 124,132 | 163,917 | 78,702 | 108,487 | 131,772 | 163,557 | 196,342 | 256,127 | 220,912 | 220,707 | 193,714 | 193,839 | 193,901 | 59,561 | 59,048 | 59,112 | 59,164 | 59,248 | 36,231 | 17,375 |
| Total assets | US$ in thousands | 1,024,430 | 1,035,730 | 928,384 | 931,083 | 937,994 | 945,933 | 964,528 | 987,211 | 947,585 | 924,915 | 889,160 | 877,577 | 892,582 | 695,431 | 660,921 | 644,819 | 636,748 | 619,110 | 408,684 | 378,923 |
| Debt-to-assets ratio | 0.12 | 0.16 | 0.08 | 0.12 | 0.14 | 0.17 | 0.20 | 0.26 | 0.23 | 0.24 | 0.22 | 0.22 | 0.22 | 0.09 | 0.09 | 0.09 | 0.09 | 0.10 | 0.09 | 0.05 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $124,132K ÷ $1,024,430K
= 0.12
The debt-to-assets ratio of Addus HomeCare Corporation has fluctuated over the past eight quarters, ranging from 0.08 to 0.26. A lower debt-to-assets ratio indicates that the company relies less on debt financing and has a greater proportion of assets funded by equity.
In Q2 2022, the ratio was at its highest at 0.26, suggesting a higher level of debt relative to assets. This may have been a period of increased borrowing or a decrease in asset values.
Subsequently, the ratio decreased to 0.20 in Q3 2022 and further declined to 0.17 in Q4 2022, indicating a reduction in debt relative to assets.
The trend reversed in Q1 2023, with the ratio increasing to 0.12, before reaching its peak in Q3 2023 at 0.16. It then fell back to 0.12 in Q4 2023, indicating a return to a lower level of debt relative to assets.
Overall, the company has shown some volatility in its debt-to-assets ratio over the analyzed period, with fluctuations indicating changes in the capital structure and financial leverage of Addus HomeCare Corporation.
Peer comparison
Dec 31, 2023