AZZ Incorporated (AZZ)
Debt-to-equity 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-equity ratio | 1.36 | 1.06 | 1.12 | 1.19 | 1.71 | 1.19 | 1.44 | 2.32 | 0.34 | 0.30 | 0.29 | 0.29 | 0.29 | 0.29 | 0.07 | 0.15 | 0.12 | 0.39 | 0.40 | 0.48 |
February 29, 2024 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $952,742K ÷ $700,769K
= 1.36
The debt-to-equity ratio of AZZ Incorporated has varied over the last few quarters. A higher debt-to-equity ratio indicates that the company relies more on debt financing compared to equity. In the most recent quarter, as of February 29, 2024, the debt-to-equity ratio stands at 1.36, which suggests that the company has higher debt levels in relation to equity.
Looking at the trend over the past few quarters, there was a significant increase in the debt-to-equity ratio from 0.07 in August 31, 2020, to 2.32 in May 31, 2022. This sharp increase indicates a substantial rise in debt relative to equity during that period. The ratio then decreased to 0.34 on February 28, 2022, but then increased again in subsequent quarters until the most recent ratio of 1.36.
Overall, the trend in the debt-to-equity ratio for AZZ Incorporated shows fluctuations, indicating changes in the company's capital structure and financial leverage over time. It is essential for stakeholders to monitor this ratio closely as higher debt levels can lead to increased financial risk and potential challenges in meeting debt obligations.
Peer comparison
Feb 29, 2024