Century Aluminum Company (CENX)
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 | 430,900 | — | 400,800 | 390,600 | 381,600 | 370,100 | 369,800 | 369,500 | 329,800 | 329,500 | 329,200 | 243,400 | 243,100 | 242,800 | 249,500 | 249,300 | 249,200 | 249,000 | 248,900 | 248,800 |
| Total assets | US$ in thousands | 1,846,500 | 1,761,000 | 1,747,300 | 1,399,100 | 1,472,000 | 1,583,600 | 1,585,000 | 1,688,700 | 1,569,900 | 1,489,200 | 1,405,400 | 1,363,400 | 1,399,600 | 1,405,400 | 1,524,000 | 1,591,100 | 1,499,700 | 1,491,800 | 1,515,300 | 1,530,400 |
| Debt-to-assets ratio | 0.23 | 0.00 | 0.23 | 0.28 | 0.26 | 0.23 | 0.23 | 0.22 | 0.21 | 0.22 | 0.23 | 0.18 | 0.17 | 0.17 | 0.16 | 0.16 | 0.17 | 0.17 | 0.16 | 0.16 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $430,900K ÷ $1,846,500K
= 0.23
The debt-to-assets ratio of Century Aluminum Company has shown some fluctuations over the past few quarters. The ratio was relatively stable around 0.23 in the first half of 2023 but experienced a slight increase to 0.28 in the first quarter of 2023. This increase may indicate a higher level of debt relative to assets during that period.
However, the ratio improved in the second quarter of 2023, dropping back to 0.23. This suggests the company may have reduced its debt levels or increased its asset base during that period. The ratio remained stable at 0.23 in the third quarter of 2023.
Overall, the company has maintained a moderate level of debt relative to its total assets, with the ratio ranging from 0.16 to 0.28 over the past few quarters. It would be important to further investigate the reasons behind the fluctuations in the ratio to assess the company's financial health and strategy regarding its debt management.
Peer comparison
Dec 31, 2023