Central Garden & Pet Company A (CENTA)
Debt-to-assets 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 assets | US$ in thousands | 3,553,440 | 3,378,650 | 3,282,000 | 3,116,680 | 2,339,360 |
| Debt-to-assets ratio | 0.33 | 0.35 | 0.36 | 0.38 | 0.30 |
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 A has shown a gradual decrease over the past five years. In September 2024, the ratio stood at 0.33, indicating that 33% of the company's total assets were financed through debt. This is an improvement from the previous years, where the ratios were 0.35 in 2023, 0.36 in 2022, 0.38 in 2021, and 0.30 in 2020.
A declining trend in the debt-to-assets ratio suggests that Central Garden & Pet Company A has been reducing its reliance on debt to finance its operations and investments. This could indicate a stronger financial position and less financial risk, as the company is using less borrowed funds relative to its total assets.
Overall, the decreasing debt-to-assets ratio is a positive sign for investors and creditors as it indicates improved financial stability and potentially better long-term sustainability for Central Garden & Pet Company A.
Peer comparison
Sep 30, 2024