Coca-Cola Consolidated Inc. (COKE)
Financial leverage 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 |
| Financial leverage ratio | 2.99 | 2.72 | 2.90 | 3.08 | 3.33 | 3.53 | 3.97 | 4.26 | 4.84 | 5.03 | 5.36 | 5.81 | 6.28 | 7.39 | 8.01 | 8.90 | 9.01 | 8.23 | 8.51 | 8.68 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $4,288,940K ÷ $1,435,600K
= 2.99
The financial leverage ratio of Coca-Cola Consolidated Inc has shown a decreasing trend from Q1 2022 to Q4 2023, indicating a decline in the company's reliance on debt to finance its operations and investments. This decreasing trend suggests that the company has been effectively managing its debt levels and improving its financial stability.
A financial leverage ratio of 2.99 in Q4 2023 indicates that for every dollar of equity, the company has $2.99 of debt. Compared to the ratios in the previous quarters, the company's leverage position has been gradually improving.
The decreasing trend in the financial leverage ratio could be a positive sign for investors and creditors as it indicates that the company is becoming less reliant on debt financing, which can reduce financial risk. However, it is important to keep monitoring the trend to ensure that the company maintains a healthy balance between debt and equity in its capital structure.
Peer comparison
Dec 31, 2023