Coca-Cola Consolidated Inc. (COKE)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 599,159 | 598,817 | 723,443 | 940,465 | 1,029,920 |
| Total assets | US$ in thousands | 4,288,940 | 3,709,540 | 3,445,570 | 3,222,450 | 3,126,930 |
| Debt-to-assets ratio | 0.14 | 0.16 | 0.21 | 0.29 | 0.33 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $599,159K ÷ $4,288,940K
= 0.14
The debt-to-assets ratio of Coca-Cola Consolidated Inc has decreased steadily over the past five years, declining from 0.34 in 2019 to 0.14 in 2023. This trend indicates that the company has been reducing its reliance on debt to finance its assets. A lower debt-to-assets ratio suggests a stronger financial position and lower financial risk for the company. The decreasing trend may reflect improved financial management and potentially better profitability, allowing the company to pay off debt or invest in assets using equity rather than debt. Overall, the decreasing debt-to-assets ratio of Coca-Cola Consolidated Inc signals a positive financial health and prudent debt management strategy.
Peer comparison
Dec 31, 2023