Compass Minerals International Inc (CMP)

Debt-to-assets ratio

		Jun 30, 2024	Mar 31, 2024	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	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
Long-term debt	US$ in thousands	868,800	872,200	908,700	800,300	716,000	825,700	832,100	947,600	885,900	922,200	1,004,900	1,152,800	—	1,299,100	1,289,200	1,247,500	1,253,700	1,285,900	1,358,200	1,275,900
Total assets	US$ in thousands	1,595,200	1,652,100	1,805,300	1,816,900	1,733,500	1,784,700	1,764,700	1,643,500	1,577,000	1,647,200	1,693,100	1,972,500	668,300	2,261,500	2,157,800	2,085,800	2,110,800	2,443,200	2,329,800	2,320,900
Debt-to-assets ratio		0.54	0.53	0.50	0.44	0.41	0.46	0.47	0.58	0.56	0.56	0.59	0.58	0.00	0.57	0.60	0.60	0.59	0.53	0.58	0.55

June 30, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $868,800K ÷ $1,595,200K
= 0.54

The debt-to-assets ratio of Compass Minerals International Inc has fluctuated over the specified periods. Generally, a higher debt-to-assets ratio indicates a higher degree of financial risk, as it implies that a significant portion of the company's assets are financed by debt.

From December 2019 to June 2020, the ratio was relatively stable around 0.58 to 0.60, reflecting a high level of debt relative to assets during that period. However, in March 2021, the ratio dropped to 0.00, which may indicate a temporary anomaly or a unique financial event, such as debt repayment or asset revaluation.

Subsequently, the ratio increased and ranged between 0.41 to 0.56 from September 2021 to December 2023, suggesting a moderate level of debt compared to assets. Notably, in September 2022, the ratio spiked to 0.58, indicating a higher reliance on debt financing during that quarter.

Overall, the trend in Compass Minerals International Inc's debt-to-assets ratio demonstrates fluctuations in the company's capital structure and debt management practices. It is essential for investors and stakeholders to monitor these ratios to assess the company's financial risk and leverage levels accurately.