Astec Industries Inc (ASTE)
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 | 72,000 | 2,400 | 2,400 | 2,200 | 78,100 | 3,000 | 3,200 | 1,200 | 200 | 500 | 500 | 400 | 400 | 380 | 431 | 493 | 700 | 717 | 28,891 | 56,629 |
| Total stockholders’ equity | US$ in thousands | 653,400 | 634,500 | 647,300 | 635,500 | 626,900 | 627,700 | 643,300 | 656,800 | 650,800 | 662,700 | 658,800 | 646,600 | 642,500 | 622,901 | 621,539 | 612,203 | 601,900 | 617,060 | 619,979 | 598,619 |
| Debt-to-capital ratio | 0.10 | 0.00 | 0.00 | 0.00 | 0.11 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.04 | 0.09 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $72,000K ÷ ($72,000K + $653,400K)
= 0.10
The debt-to-capital ratio of Astec Industries Inc. has varied over the quarters presented in the table. In Q4 2023, the ratio stood at 0.11, indicating that debt represented 11% of the company's total capital. This ratio increased from the previous quarter, where it was 0.17, suggesting a higher reliance on debt financing in Q3 2023.
Comparing Q4 2023 to the same quarter in the previous year, there has been a slight increase in the debt-to-capital ratio from 0.11 to 0.12. However, this ratio remains relatively stable, indicating a consistent level of debt usage to fund the company's operations and investments.
A notable change in the debt-to-capital ratio occurred between Q2 and Q3 2022 when it jumped from 0.01 to 0.02, representing a significant increase in the company's debt relative to capital. Since then, the ratio has fluctuated but generally remained low, indicating a conservative approach to debt management by Astec Industries Inc.
Overall, the debt-to-capital ratio provides valuable insight into the company's capital structure and financial leverage. The trend of this ratio over time can help stakeholders assess Astec Industries Inc.'s risk profile and financial health.
Peer comparison
Dec 31, 2023