Cencora Inc. (COR)
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 | 4,185,940 | 4,146,110 | 4,159,850 | 4,666,530 | 4,656,030 | 4,632,360 | 4,640,130 | 4,646,710 | 6,412,540 | 6,383,710 | 6,647,180 | 6,147,110 | 3,640,740 | 3,618,260 | 3,620,640 | 3,622,390 | 3,636,110 | 4,033,880 | 4,018,560 | 4,009,500 |
| Total assets | US$ in thousands | 64,690,300 | 62,558,700 | 61,177,200 | 58,766,200 | 57,906,900 | 56,560,600 | 57,173,600 | 57,308,200 | 57,577,600 | 57,337,800 | 55,930,900 | 47,003,200 | 45,846,800 | 44,274,800 | 40,789,700 | 42,042,300 | 40,016,700 | 39,172,000 | 38,478,500 | 38,810,300 |
| Debt-to-assets ratio | 0.06 | 0.07 | 0.07 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.11 | 0.11 | 0.12 | 0.13 | 0.08 | 0.08 | 0.09 | 0.09 | 0.09 | 0.10 | 0.10 | 0.10 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $4,185,940K ÷ $64,690,300K
= 0.06
The debt-to-assets ratio of Cencora Inc. has shown a decreasing trend over the past eight quarters, dropping from 0.11 in March 2022 to 0.07 in December 2023. This indicates that the company has been gradually reducing its reliance on debt to finance its assets. A lower debt-to-assets ratio suggests a stronger financial position and lower financial risk, as it signifies that the company has a higher proportion of assets financed by equity rather than debt. However, it is important to consider the industry norms and compare with peer companies to gain a complete understanding of the company's leverage position.
Peer comparison
Dec 31, 2023