Addus HomeCare Corporation (ADUS)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 706,694 | 684,334 | 666,351 | 648,886 | 633,540 | 614,837 | 599,777 | 585,778 | 574,344 | 558,051 | 544,055 | 529,910 | 518,676 | 507,600 | 494,861 | 486,808 | 475,592 | 462,199 | 281,507 | 274,020 |
| Debt-to-capital ratio | 0.15 | 0.19 | 0.11 | 0.14 | 0.17 | 0.21 | 0.25 | 0.30 | 0.28 | 0.28 | 0.26 | 0.27 | 0.27 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.06 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $124,132K ÷ ($124,132K + $706,694K)
= 0.15
The debt-to-capital ratio of Addus HomeCare Corporation has shown fluctuations over the past eight quarters, ranging from 0.11 to 0.30. A lower ratio indicates a lower reliance on debt to finance the company's operations, while a higher ratio suggests a greater dependency on debt.
In the most recent quarter, Q4 2023, the debt-to-capital ratio stood at 0.15, indicating a moderate level of debt relative to the company's capital structure. This ratio has decreased from the previous quarter, Q3 2023, where it was 0.19, suggesting a positive trend of decreasing leverage.
It is worth noting that in the last two quarters of 2022, the debt-to-capital ratio was relatively high at 0.25 and 0.30, signaling a higher proportion of debt in the company's overall capitalization. However, there has been a downward trend in this ratio since then, which could indicate efforts by the company to reduce its debt levels or improve its capital structure.
Overall, a downward trend in the debt-to-capital ratio can be seen over the past year, reflecting potential improvements in the company's balance sheet health and financial stability. It is essential for investors and stakeholders to monitor this ratio to assess the company's risk profile and financial health.
Peer comparison
Dec 31, 2023