AZZ Incorporated (AZZ)
Debt-to-assets ratio
| Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 952,742 | 980,004 | 1,002,360 | 1,040,840 | 1,058,120 | 1,010,650 | 1,238,170 | 1,594,780 | 226,484 | 191,468 | 182,451 | 185,435 | 178,419 | 181,978 | 46,945 | 93,911 | 77,878 | 254,845 | 255,812 | 296,779 |
| Total assets | US$ in thousands | 2,195,500 | 2,208,760 | 2,214,560 | 2,205,980 | 2,221,480 | 2,199,470 | 2,584,750 | 2,782,290 | 1,133,030 | 1,037,580 | 1,023,240 | 1,039,240 | 999,227 | 1,009,870 | 999,952 | 1,050,770 | 1,073,830 | 1,172,570 | 1,120,120 | 1,135,680 |
| Debt-to-assets ratio | 0.43 | 0.44 | 0.45 | 0.47 | 0.48 | 0.46 | 0.48 | 0.57 | 0.20 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.05 | 0.09 | 0.07 | 0.22 | 0.23 | 0.26 |
February 29, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $952,742K ÷ $2,195,500K
= 0.43
The debt-to-assets ratio of AZZ Incorporated has shown some fluctuations over the periods analyzed. The ratio has ranged from a low of 0.05 to a high of 0.57 during the timeframe provided.
The ratio peaked at 0.57 in May 31, 2022, indicating that at that time, a significant portion of the company's assets were financed by debt. The ratio then decreased to 0.18 in the subsequent three periods (Aug 31, 2022 to Feb 28, 2021), suggesting a reduction in the company's reliance on debt for asset financing.
However, there was a sudden increase in the debt-to-assets ratio to 0.48 in May 31, 2021, before stabilizing around the range of 0.18 to 0.26 in the following periods till Feb 29, 2020. This period of stability indicates a consistent level of debt financing relative to the company's assets.
In the most recent periods, the ratio has been relatively low, with values of 0.22 to 0.43, reflecting a more conservative approach to debt financing compared to the peaks seen in previous years. It appears that the company has managed to maintain a balanced level of debt in relation to its assets, avoiding excessive leveraging and maintaining financial stability.
Overall, the trend in AZZ Incorporated's debt-to-assets ratio suggests that the company has experienced fluctuations in its capital structure but has managed to keep its debt levels under control in recent periods. Monitoring this ratio over time can provide insights into the company's financial health and its ability to manage debt effectively.
Peer comparison
Feb 29, 2024