The Andersons Inc (ANDE)
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 | 562,960 | 569,730 | 576,489 | 486,892 | 492,518 | 497,988 | 563,447 | 571,181 | 600,487 | 542,821 | 837,609 | 877,583 | 886,453 | 717,198 | 975,973 | 987,526 | 1,016,250 | 968,117 | 1,007,010 | 982,025 |
| Total stockholders’ equity | US$ in thousands | 1,282,900 | 1,240,740 | 1,230,990 | 1,169,590 | 1,198,600 | 1,193,920 | 1,167,150 | 1,089,020 | 1,072,420 | 1,033,440 | 1,022,500 | 983,667 | 961,891 | 939,199 | 939,388 | 912,257 | 973,610 | 962,458 | 970,114 | 947,284 |
| Debt-to-capital ratio | 0.30 | 0.31 | 0.32 | 0.29 | 0.29 | 0.29 | 0.33 | 0.34 | 0.36 | 0.34 | 0.45 | 0.47 | 0.48 | 0.43 | 0.51 | 0.52 | 0.51 | 0.50 | 0.51 | 0.51 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $562,960K ÷ ($562,960K + $1,282,900K)
= 0.30
The debt-to-capital ratio of Andersons Inc. has varied over the past eight quarters, ranging from 0.33 to 0.66. A lower ratio indicates that the company relies less on debt to finance its operations and investments, while a higher ratio suggests a higher level of debt relative to the company's total capital.
In the most recent quarter, Q4 2023, the debt-to-capital ratio was consistent with the previous quarter at 0.33, indicating a relatively low level of debt compared to total capital. This stability suggests that the company has maintained a balanced capital structure and managed its debt effectively.
Looking back further, there was a notable decrease in the debt-to-capital ratio from Q1 2023 (0.51) to Q2 2023 (0.36), which may indicate that the company reduced its debt levels or increased its capital during that period.
Overall, the trend in Andersons Inc.'s debt-to-capital ratio shows fluctuations but with recent signs of stability. Further analysis of the company's financial strategy and performance would be needed to fully assess the implications of these changes in the debt-to-capital ratio over time.
Peer comparison
Dec 31, 2023