Apogee Enterprises Inc (APOG)
Debt-to-assets ratio
| Mar 2, 2024 | Nov 25, 2023 | Aug 26, 2023 | May 27, 2023 | Feb 25, 2023 | Nov 26, 2022 | Aug 27, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | Jun 1, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 62,000 | 100,666 | 145,675 | 170,669 | 169,837 | 203,735 | 250,834 | 261,000 | 162,000 | 162,000 | 162,000 | 162,000 | 163,000 | 166,463 | 15,672 | 55,500 | 212,500 | 95,856 | 117,385 | 293,309 |
| Total assets | US$ in thousands | 884,064 | 894,855 | 908,579 | 921,199 | 915,365 | 918,446 | 948,974 | 906,950 | 887,863 | 982,091 | 976,453 | 990,703 | 1,015,100 | 1,085,980 | 1,054,500 | 1,071,620 | 1,128,990 | 1,149,790 | 1,138,830 | 1,132,240 |
| Debt-to-assets ratio | 0.07 | 0.11 | 0.16 | 0.19 | 0.19 | 0.22 | 0.26 | 0.29 | 0.18 | 0.16 | 0.17 | 0.16 | 0.16 | 0.15 | 0.01 | 0.05 | 0.19 | 0.08 | 0.10 | 0.26 |
March 2, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $62,000K ÷ $884,064K
= 0.07
The debt-to-assets ratio of Apogee Enterprises Inc has displayed some fluctuations over the past several quarters. The ratio stood at 0.07 in March 2024, indicating that only 7% of the company's assets were financed by debt at that time. This level suggests a relatively low level of financial leverage.
Looking back at the historical trend, we observe that the ratio has ranged from a low of 0.01 in August 2020 to a high of 0.29 in May 2022. These fluctuations may indicate changes in the company's capital structure and its approach to funding operations and growth.
The long-term trend shows some variability but with a general stability around the 0.15 to 0.25 range in recent quarters. It is important to note that a lower debt-to-assets ratio implies lower financial risk as the company has less reliance on debt for funding its operations and investments.
Further analysis of the reasons behind these fluctuations and a comparison with industry peers may provide more insights into Apogee Enterprises Inc's financial health and risk profile.