AeroVironment Inc (AVAV)
Debt-to-capital ratio
| Apr 30, 2024 | Jan 27, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 30, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | Apr 30, 2021 | Oct 31, 2020 | Aug 1, 2020 | Apr 30, 2020 | Jul 27, 2019 | Apr 30, 2019 | Oct 27, 2018 | Jul 28, 2018 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 17,092 | 31,292 | 73,678 | 118,537 | 125,904 | 155,763 | 155,622 | 175,481 | 177,840 | 180,398 | 182,769 | 185,141 | 187,512 | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 822,745 | 812,985 | 793,730 | 574,545 | 550,970 | 621,513 | 607,483 | 599,923 | 607,969 | 602,428 | 599,902 | 598,240 | 612,093 | 523,906 | 519,929 | 509,901 | 481,506 | 462,571 | 444,176 | 437,050 |
| Debt-to-capital ratio | 0.02 | 0.04 | 0.08 | 0.17 | 0.19 | 0.20 | 0.20 | 0.23 | 0.23 | 0.23 | 0.23 | 0.24 | 0.23 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
April 30, 2024 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $17,092K ÷ ($17,092K + $822,745K)
= 0.02
The debt-to-capital ratio for AeroVironment Inc has shown fluctuations over the past few years. It was relatively low at 0.02 in April 2024 but increased to 0.04 in January 2024 and further to 0.08 in October 2023. Subsequently, it rose to 0.17 in July 2023 and peaked at 0.19 in April 2023. The ratio remained at similar levels around 0.20 in the following quarters until January 2022.
From October 2021 to July 2021, there was a slight increase in the debt-to-capital ratio from 0.23 to 0.24. However, from April 2021 to October 2020, there was a significant drop in the ratio to 0.00, which continued throughout 2020. During the previous years, including 2019 and 2018, the debt-to-capital ratio also remained at 0.00.
Overall, the trend in the debt-to-capital ratio indicates that AeroVironment Inc has maintained a conservative capital structure with low debt levels in recent years, with the ratio either at negligible levels or below 0.25. This suggests that the company relies more on equity financing rather than debt to support its operations and growth initiatives.
Peer comparison
Apr 30, 2024