Coca-Cola Consolidated Inc. (COKE)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 1,435,600 | 1,524,330 | 1,379,710 | 1,234,250 | 1,115,390 | 1,018,910 | 901,680 | 803,647 | 711,786 | 680,140 | 612,502 | 565,342 | 512,990 | 448,238 | 397,418 | 359,220 | 346,952 | 378,849 | 367,991 | 354,371 |
| Debt-to-capital ratio | 0.29 | 0.28 | 0.30 | 0.33 | 0.35 | 0.37 | 0.40 | 0.43 | 0.50 | 0.54 | 0.56 | 0.62 | 0.65 | 0.68 | 0.71 | 0.75 | 0.75 | 0.73 | 0.75 | 0.76 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $599,159K ÷ ($599,159K + $1,435,600K)
= 0.29
The debt-to-capital ratio of Coca-Cola Consolidated Inc has been fluctuating over the past eight quarters. From Q1 2022 to Q4 2023, the ratio decreased gradually from 0.48 to 0.30. This suggests that the company's reliance on debt to finance its operations and growth has decreased over time relative to its total capital. A lower debt-to-capital ratio indicates a healthier financial position as it signifies a lower level of debt in comparison to the total capital employed by the company.
The decreasing trend in the debt-to-capital ratio of Coca-Cola Consolidated Inc from Q1 2022 to Q4 2023 indicates a positive shift towards a more balanced capital structure, potentially reducing the company's financial risk and enhancing its overall stability. It is essential for investors and stakeholders to monitor this ratio as it provides insights into the company's financial leverage and risk management strategies.
Peer comparison
Dec 31, 2023