Coca-Cola Consolidated Inc. (COKE)
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 | 599,159 | 599,123 | 598,992 | 598,860 | 598,817 | 598,778 | 598,633 | 598,574 | 723,443 | 793,177 | 778,236 | 909,304 | 940,465 | 962,867 | 970,174 | 1,082,590 | 1,029,920 | 1,027,340 | 1,092,150 | 1,138,500 |
| Total assets | US$ in thousands | 4,288,940 | 4,141,280 | 3,994,540 | 3,799,700 | 3,709,540 | 3,597,280 | 3,581,670 | 3,425,930 | 3,445,570 | 3,419,940 | 3,282,300 | 3,284,830 | 3,222,450 | 3,312,890 | 3,184,580 | 3,195,740 | 3,126,930 | 3,118,720 | 3,132,150 | 3,075,690 |
| Debt-to-assets ratio | 0.14 | 0.14 | 0.15 | 0.16 | 0.16 | 0.17 | 0.17 | 0.17 | 0.21 | 0.23 | 0.24 | 0.28 | 0.29 | 0.29 | 0.30 | 0.34 | 0.33 | 0.33 | 0.35 | 0.37 |
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 been consistently decreasing over the past eight quarters, indicating a positive trend in the company's solvency and financial health. The ratio declined from 0.21 in Q1 2022 to 0.14 in Q4 2023. This signifies that the company has been reducing its reliance on debt to finance its assets, which is a positive sign for investors and creditors. A lower debt-to-assets ratio suggests that the company has a lower level of debt relative to its total assets, indicating a stronger financial position and lower risk of default. Coca-Cola Consolidated's decreasing debt-to-assets ratio could potentially enhance its ability to weather economic downturns and pursue growth opportunities in the future.
Peer comparison
Dec 31, 2023