Consol Energy Inc (CEIX)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 181,885 | 342,110 | 568,052 | 566,858 | 653,802 |
| Total assets | US$ in thousands | 2,675,000 | 2,704,380 | 2,573,520 | 2,523,370 | 2,693,800 |
| Debt-to-assets ratio | 0.07 | 0.13 | 0.22 | 0.22 | 0.24 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $181,885K ÷ $2,675,000K
= 0.07
The debt-to-assets ratio of Consol Energy Inc has shown a decreasing trend over the past five years. As of December 31, 2023, the ratio stands at 0.07, indicating that only 7% of the company's assets are financed through debt. This represents a significant improvement from the ratios of 0.14 in 2022, 0.25 in 2021, and 0.26 in both 2020 and 2019.
The decreasing trend in the debt-to-assets ratio suggests that Consol Energy Inc has been gradually reducing its reliance on debt to finance its operations and investments. A lower debt-to-assets ratio is generally seen as a positive indicator, as it implies a lower level of financial risk and greater financial stability for the company. However, it's also important to consider other factors such as the return on assets, interest coverage ratio, and overall financial strategy of the company in order to holistically assess its financial health.
Peer comparison
Dec 31, 2023