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.