AZZ Incorporated (AZZ)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 700,769 | 921,150 | 898,077 | 871,373 | 619,738 | 852,513 | 859,621 | 687,559 | 667,365 | 648,044 | 638,426 | 637,411 | 623,292 | 624,078 | 631,541 | 635,656 | 634,366 | 653,243 | 634,606 | 619,257 |
| Debt-to-capital ratio | 0.58 | 0.52 | 0.53 | 0.54 | 0.63 | 0.54 | 0.59 | 0.70 | 0.25 | 0.23 | 0.22 | 0.23 | 0.22 | 0.23 | 0.07 | 0.13 | 0.11 | 0.28 | 0.29 | 0.32 |
February 29, 2024 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $952,742K ÷ ($952,742K + $700,769K)
= 0.58
The debt-to-capital ratio for AZZ Incorporated has shown some fluctuations over the past few quarters. The ratio ranged from 0.07 to 0.70 during the period under review. It appears that the company's leverage position varied significantly, with some quarters showing higher levels of debt relative to total capital, while other quarters indicating lower levels of debt.
Notably, there was a steep increase in the debt-to-capital ratio in August 2022, where it reached 0.70, suggesting a higher reliance on debt to finance its operations at that time. However, in February 2022, the ratio dropped to 0.25, indicating a lower proportion of debt in the capital structure.
Overall, the trend in the debt-to-capital ratio indicates some variability in AZZ Incorporated's capital structure and financing decisions. It is essential for stakeholders to monitor these changes to assess the company's risk profile and financial health accurately.
Peer comparison
Feb 29, 2024