Cracker Barrel Old Country Store (CBRL)

Debt-to-capital ratio

		Aug 2, 2024	Apr 26, 2024	Jan 26, 2024	Oct 27, 2023	Jul 28, 2023	Apr 28, 2023	Jan 27, 2023	Oct 28, 2022	Jul 29, 2022	Apr 29, 2022	Jan 28, 2022	Oct 29, 2021	Jul 30, 2021	Apr 30, 2021	Jan 29, 2021	Oct 30, 2020	Jul 31, 2020	May 1, 2020	Jan 31, 2020	Nov 1, 2019
Long-term debt	US$ in thousands	476,581	472,216	452,278	475,340	414,904	444,545	454,111	483,679	423,249	372,894	327,358	376,974	327,253	575,349	835,049	910,000	910,000	940,000	460,000	485,000
Total stockholders’ equity	US$ in thousands	440,149	426,557	461,967	460,252	483,825	473,868	486,493	487,513	511,479	564,229	604,104	629,215	663,633	648,113	608,611	591,612	418,389	392,209	629,930	605,784
Debt-to-capital ratio		0.52	0.53	0.49	0.51	0.46	0.48	0.48	0.50	0.45	0.40	0.35	0.37	0.33	0.47	0.58	0.61	0.69	0.71	0.42	0.44

August 2, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $476,581K ÷ ($476,581K + $440,149K)
= 0.52

The debt-to-capital ratio of Cracker Barrel Old Country Store has fluctuated over the period under review. Generally, the company has maintained a moderate level of leverage, with the ratio ranging from 0.33 to 0.71.

Looking at the trend, there seems to be some variability in the ratio, indicating changes in the company's capital structure and debt management over time. The ratio peaked at 0.71 in November 2019, reflecting a higher level of debt relative to capital at that point. Subsequently, there was a decline in the ratio, reaching a low of 0.33 in July 2021, which suggests a lower reliance on debt financing relative to capital during that period.

In recent quarters, the debt-to-capital ratio has been hovering around the mid-range, with values between 0.40 and 0.58. This suggests that Cracker Barrel Old Country Store has maintained a balanced approach to capital structure, utilizing a mix of debt and equity to fund its operations and growth initiatives.

Overall, the trend in the debt-to-capital ratio indicates that Cracker Barrel Old Country Store has managed its debt levels prudently, with variations possibly reflecting strategic decisions regarding capital structure and financing arrangements. Further analysis of the company's financial performance and debt obligations would provide additional insights into its leverage position.