Cabot Corporation (CBT)
Debt-to-assets ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,087,000 | 1,083,000 | 1,088,000 | 1,098,000 | 1,094,000 | 1,093,000 | 1,094,000 | 1,091,000 | 1,089,000 | 1,097,000 | 711,000 | 714,000 | 717,000 | 1,088,000 | 1,087,000 | 1,085,000 | 1,094,000 | 1,164,000 | 1,190,000 | 1,095,000 |
| Total assets | US$ in thousands | 3,736,000 | 3,580,000 | 3,596,000 | 3,695,000 | 3,604,000 | 3,387,000 | 3,519,000 | 3,535,000 | 3,525,000 | 3,568,000 | 3,524,000 | 3,315,000 | 3,306,000 | 3,225,000 | 3,047,000 | 2,980,000 | 2,781,000 | 3,019,000 | 3,097,000 | 3,151,000 |
| Debt-to-assets ratio | 0.29 | 0.30 | 0.30 | 0.30 | 0.30 | 0.32 | 0.31 | 0.31 | 0.31 | 0.31 | 0.20 | 0.22 | 0.22 | 0.34 | 0.36 | 0.36 | 0.39 | 0.39 | 0.38 | 0.35 |
September 30, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,087,000K ÷ $3,736,000K
= 0.29
The debt-to-assets ratio of Cabot Corporation has been relatively stable over the past few quarters, hovering around the range of 0.29 to 0.36. This indicates that the company relies on debt to finance a portion of its assets.
There was a notable increase in the debt-to-assets ratio in the first quarter of 2022, where it spiked to 0.32, but it gradually decreased in the following quarters to 0.29-0.30 range. This implies that the company may have taken on more debt relative to its assets in the early part of 2022, but managed to bring it back in line in subsequent periods.
The debt-to-assets ratio fluctuated between 0.34 to 0.39 in the latter part of 2020 and early 2021, indicating a higher reliance on debt during that time. However, the ratio improved and stabilized in the following quarters.
Overall, the company's debt-to-assets ratio suggests a moderate level of debt utilization to support its asset base, with a trend towards lower levels of leverage in recent quarters. Monitoring this ratio over time is important for evaluating the company's financial risk and solvency.
Peer comparison
Sep 30, 2024