Central Garden & Pet Company (CENT)
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 | 1,189,810 | 1,189,370 | 1,188,960 | 1,189,090 | 1,187,960 | 1,187,500 | 1,212,050 | 1,186,650 | 1,186,240 | 1,185,840 | 1,185,460 | 1,185,060 | 1,184,680 | 1,183,590 | 978,887 | 788,921 | 693,956 | 693,915 | 693,622 | 693,329 |
| Total assets | US$ in thousands | 3,553,440 | 3,607,880 | 3,540,020 | 3,422,330 | 3,378,650 | 3,419,950 | 3,350,800 | 3,229,070 | 3,282,000 | 3,345,930 | 3,349,260 | 3,118,040 | 3,116,680 | 3,123,500 | 2,847,100 | 2,446,100 | 2,339,360 | 2,263,970 | 2,167,410 | 2,135,160 |
| Debt-to-assets ratio | 0.33 | 0.33 | 0.34 | 0.35 | 0.35 | 0.35 | 0.36 | 0.37 | 0.36 | 0.35 | 0.35 | 0.38 | 0.38 | 0.38 | 0.34 | 0.32 | 0.30 | 0.31 | 0.32 | 0.32 |
September 30, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,189,810K ÷ $3,553,440K
= 0.33
The debt-to-assets ratio of Central Garden & Pet Company has displayed minor fluctuations over the past eight quarters, ranging from 0.30 to 0.38. The ratio indicates the proportion of the company's assets financed through debt, with higher values suggesting a higher level of debt relative to assets.
Overall, the trend shows a moderate increase in the debt-to-assets ratio, from 0.30 in December 2019 to 0.34 in September 2024. This may imply a slightly higher reliance on debt financing to support the company's operations and investments over the period under review.
It is important to note that while the ratio has increased, it has generally remained within a reasonable range, indicating a balanced approach to capital structure management. The company appears to have maintained a prudent level of debt relative to its total assets, suggesting a reasonable risk profile in terms of financial leverage.
Further analysis of the company's financial performance and cash flow position would provide additional insights into its ability to service its debt obligations and manage financial risks effectively.
Peer comparison
Sep 30, 2024