Commercial Metals Company (CMC)
Debt-to-assets ratio
| Aug 31, 2023 | Aug 31, 2022 | Aug 31, 2021 | Aug 31, 2020 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total assets | US$ in thousands | 6,639,090 | 6,237,030 | 4,638,670 | 4,081,730 | 3,758,770 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
August 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $6,639,090K
= 0.00
The debt-to-assets ratio for Commercial Metals Co. has shown a decreasing trend over the past five years, indicating a positive development in the company's leverage position. The ratio decreased from 0.33 in 2019 to 0.17 in 2023. This decline suggests that the company has been able to lower its level of debt in relation to its assets, which may reduce its financial risk and enhance its overall financial stability. Furthermore, the decreasing trend in this ratio could indicate that the company's ability to generate earnings and cash flows from its assets has improved, leading to a lower reliance on debt financing. Overall, the declining trend in the debt-to-assets ratio suggests that Commercial Metals Co. has made favorable progress in managing its debt levels and optimizing its asset base.
Peer comparison
Aug 31, 2023