Adapthealth Corp (AHCO)

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	2,094,610	2,126,800	2,135,620	2,169,440	2,153,270	2,162,090	2,170,910	2,179,730	2,183,550	2,187,370	1,776,330	1,748,830	776,568	722,730	443,248	463,553	395,112	—	—	—
Total assets	US$ in thousands	4,508,650	4,725,250	5,203,010	5,283,440	5,219,590	5,237,980	5,202,010	5,204,340	5,250,480	5,191,720	4,687,660	4,520,070	1,813,470	1,556,270	742,467	665,004	546,538	256,627	255,866	255,231
Debt-to-assets ratio		0.46	0.45	0.41	0.41	0.41	0.41	0.42	0.42	0.42	0.42	0.38	0.39	0.43	0.46	0.60	0.70	0.72	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,094,610K ÷ $4,508,650K
= 0.46

The debt-to-assets ratio for AdaptHealth Corp has shown some fluctuations over the past eight quarters. The ratio was consistent at 0.42 from Q1 2022 to Q4 2022, indicating that the company maintained a stable level of debt relative to its total assets during that period.

However, in Q2 2023, there was a slight decrease to 0.42, which was then followed by a further decrease to 0.46 in Q3 2023. This suggests that the company may have taken on more debt relative to its assets in those quarters.

The most recent data, Q4 2023, shows a slight increase in the debt-to-assets ratio to 0.48. This indicates that the company's level of debt in relation to its total assets has increased compared to the previous quarter.

Overall, the trend in the debt-to-assets ratio for AdaptHealth Corp over the past year indicates some variability in the company's leverage position, with a general increasing trend towards the end of the period. This may suggest a shift in the company's financing strategy or investment activities that warrants further investigation and analysis.