Central Garden & Pet Company A (CENTA)
Debt-to-assets 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 assets | US$ in thousands | 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 | 2,025,020 | 2,064,920 | 2,046,140 |
| Debt-to-assets ratio | 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 | 0.34 | 0.34 | 0.34 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,189,090K ÷ $3,422,330K
= 0.35
The debt-to-assets ratio of Central Garden & Pet Company A has shown relatively consistent levels over the past few quarters, ranging from 0.30 to 0.38. This ratio indicates the proportion of the company's assets financed by debt. A lower ratio suggests that the company relies less on debt to fund its operations and investments, while a higher ratio indicates higher debt financing.
The trend in Central Garden & Pet Company A's debt-to-assets ratio shows that the company has maintained a moderate level of debt relative to its assets. The ratio has hovered around 0.35, indicating that about 35% of the company's assets are funded by debt on average. This suggests a balanced capital structure where the company is not overly reliant on debt for its operations.
Overall, the stability of the debt-to-assets ratio indicates a consistent approach to managing the company's financial leverage. Investors and creditors may find this ratio reassuring as it signals that Central Garden & Pet Company A has a stable debt position and is effectively managing its debt levels in relation to its assets.
Peer comparison
Dec 31, 2023