Cencora Inc. (COR)
Debt-to-assets ratio
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 3,811,740 | 4,146,110 | 4,632,360 | 6,383,710 | 3,618,260 |
| Total assets | US$ in thousands | 67,101,700 | 62,558,700 | 56,560,600 | 57,337,800 | 44,274,800 |
| Debt-to-assets ratio | 0.06 | 0.07 | 0.08 | 0.11 | 0.08 |
September 30, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $3,811,740K ÷ $67,101,700K
= 0.06
Cencora Inc.'s debt-to-assets ratio has been fluctuating over the past five years, standing at 0.06 as of September 30, 2024, down from 0.07 in the previous year. This ratio indicates that for every dollar of assets, the company has $0.06 of debt.
The downward trend in the debt-to-assets ratio may imply that Cencora Inc. has been managing its debt levels more effectively or increasing its asset base relative to its debt obligations. Lower debt-to-assets ratios generally suggest a stronger financial position and lower financial risk for the company.
However, it is important to note that a low debt-to-assets ratio may also indicate underutilization of debt for potential expansion or growth opportunities. Therefore, Cencora Inc. should ensure a balance between debt and assets to optimize its capital structure and enhance shareholder value.
Overall, the decreasing trend in the debt-to-assets ratio for Cencora Inc. suggests a positive financial health in terms of managing debt relative to its asset base, but it is essential for the company to monitor this ratio continually to make informed financial decisions.
Peer comparison
Sep 30, 2024