ConAgra Foods Inc (CAG)

Debt-to-capital ratio

		May 31, 2025	May 31, 2024	May 26, 2024	May 31, 2023	May 28, 2023
Long-term debt	US$ in thousands	—	—	7,492,600	—	7,081,300
Total stockholders’ equity	US$ in thousands	8,932,700	8,440,400	8,440,400	8,736,800	8,736,800
Debt-to-capital ratio		0.00	0.00	0.47	0.00	0.45

May 31, 2025 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $8,932,700K)
= 0.00

The provided data indicates that ConAgra Foods Inc's debt-to-capital ratio exhibited notable fluctuations over the specified periods. As of May 28, 2023, the ratio stood at 0.45, suggesting that approximately 45% of the company's capital structure was financed through debt, with the remaining 55% financed through equity or other means. This ratio declined to zero by May 31, 2023, which may indicate a temporary elimination of debt or changes in reporting scope during that period.

By May 26, 2024, the ratio increased slightly to 0.47, reflecting a modest rise in leverage; this suggests an incremental increase in debt relative to total capital, potentially pointing to a strategic decision to utilize debt for financing growth or operational needs. However, the data for subsequent reporting dates—May 31, 2024, and May 31, 2025—show ratios at zero once again. These zeros could be indicative of a change in reporting practices, sale or repayment of debt, or a restructuring that resulted in the absence of reported debt in those periods.

Overall, the trend illustrates periods of debt utilization coupled with points where reported debt appears to be absent, highlighting possible shifts in capital management strategies, reporting boundaries, or debt restructuring activities. The fluctuations between positive ratios and zero values suggest that leverage levels have been variable and subject to significant change over the analyzed periods.