Coca-Cola Consolidated Inc. (COKE)
Debt-to-equity 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-equity ratio | 0.42 | 0.39 | 0.43 | 0.49 | 0.54 | 0.59 | 0.66 | 0.74 | 1.02 | 1.17 | 1.27 | 1.61 | 1.83 | 2.15 | 2.44 | 3.01 | 2.97 | 2.71 | 2.97 | 3.21 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $599,159K ÷ $1,435,600K
= 0.42
The debt-to-equity ratio for Coca-Cola Consolidated Inc has shown a decreasing trend over the last few quarters, indicating a positive sign of financial stability. In the most recent quarter (Q4 2023), the ratio stood at 0.42, which implies that for every dollar of equity, the company has $0.42 of debt.
Compared to the same quarter of the previous year (Q4 2022), where the ratio was 0.55, there has been a significant improvement in managing debt levels relative to equity. This suggests that the company has been successful in reducing its reliance on debt to finance its operations.
Overall, the decreasing trend in the debt-to-equity ratio indicates that Coca-Cola Consolidated Inc has been effectively managing its debt levels and strengthening its financial position. It is essential for investors and stakeholders to monitor this ratio consistently to ensure continued financial health and sustainability.
Peer comparison
Dec 31, 2023