Central Garden & Pet Company (CENT)
Debt-to-capital ratio
| 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 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 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 | 693,037 | 692,948 | 692,646 |
| Total stockholders’ equity | US$ in thousands | 1,451,890 | 1,451,350 | 1,445,530 | 1,371,090 | 1,322,850 | 1,333,710 | 1,351,020 | 1,293,090 | 1,228,230 | 1,222,250 | 1,240,360 | 1,160,570 | 1,086,590 | 1,076,800 | 1,059,420 | 993,013 | 973,124 | 996,007 | 1,033,640 | 998,749 |
| Debt-to-capital ratio | 0.45 | 0.45 | 0.45 | 0.47 | 0.47 | 0.47 | 0.47 | 0.48 | 0.49 | 0.49 | 0.49 | 0.46 | 0.42 | 0.39 | 0.40 | 0.41 | 0.42 | 0.41 | 0.40 | 0.41 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,189,090K ÷ ($1,189,090K + $1,451,890K)
= 0.45
The debt-to-capital ratio of Central Garden & Pet Company has been relatively stable over the past few quarters, fluctuating between 0.39 and 0.49. This ratio indicates the proportion of the company's capital structure that is financed by debt, with values closer to 1 indicating higher reliance on debt financing. Central Garden & Pet Company's ratio has ranged from 0.39 to 0.49, suggesting a moderate level of debt in its capital structure. The slight variations over time may reflect the company's strategic decisions regarding financing and its ability to manage debt levels effectively. Overall, the company's debt-to-capital ratio appears to be within a manageable range, providing a balanced mix of debt and equity in its capital structure.
Peer comparison
Dec 31, 2023