Central Garden & Pet Company (CENT)
Debt-to-equity ratio
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,189,810 | 1,187,960 | 1,186,240 | 1,184,680 | 693,956 |
| Total stockholders’ equity | US$ in thousands | 1,555,650 | 1,451,350 | 1,333,710 | 1,222,250 | 1,076,800 |
| Debt-to-equity ratio | 0.76 | 0.82 | 0.89 | 0.97 | 0.64 |
September 30, 2024 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,189,810K ÷ $1,555,650K
= 0.76
The debt-to-equity ratio of Central Garden & Pet Company has been fluctuating over the past five years. In 2020, the ratio was relatively low at 0.64, indicating a lower level of financial leverage. However, in 2021, the ratio increased to 0.97, suggesting an increase in debt relative to equity.
Subsequently, there was a decreasing trend in the ratio in the following years, with the ratio dropping to 0.76 in 2024. This downward trend indicates a potential decrease in the company's reliance on debt financing and a stronger equity position.
Overall, fluctuations in the debt-to-equity ratio of Central Garden & Pet Company suggest varying levels of leverage and financial risk over the years, with a recent trend towards a more balanced capital structure.
Peer comparison
Sep 30, 2024