Cencora Inc. (COR)
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 | 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 stockholders’ equity | US$ in thousands | 911,703 | 522,003 | 686,018 | 281,686 | -178,131 | -211,559 | 224,299 | 550,309 | 241,546 | 223,354 | 37,962 | -281,756 | -697,222 | -1,018,920 | 3,857,250 | 3,590,590 | 2,954,630 | 2,878,920 | 2,989,420 | 2,921,220 |
| Debt-to-equity ratio | 4.59 | 7.94 | 6.06 | 16.57 | — | — | 20.69 | 8.44 | 26.55 | 28.58 | 175.10 | — | — | — | 0.94 | 1.01 | 1.23 | 1.40 | 1.34 | 1.37 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $4,185,940K ÷ $911,703K
= 4.59
The debt-to-equity ratio of Cencora Inc. has fluctuated significantly over the past year, indicating potential changes in the company's capital structure and financial risk.
As of December 31, 2023, the debt-to-equity ratio stands at 5.24, which indicates that the company has a relatively low level of debt compared to its equity. This suggests a favorable balance between debt and equity financing, which can be seen as a positive sign for investors and creditors.
However, the ratio was much higher in the previous periods, reaching 9.17 in September 2023 and 17.51 in March 2023. Such high levels of debt relative to equity could indicate higher financial risk and a greater reliance on debt financing, which may be a cause for concern.
The absence of data for December 2022 and September 2022 makes it challenging to assess the consistent trend in the debt-to-equity ratio during that period. However, it is notable that the ratio reached 27.03 in June 2022, signaling a significant increase in financial leverage at that time.
Overall, the fluctuation in the debt-to-equity ratio suggests varying degrees of financial leverage and risk for Cencora Inc. It is essential for stakeholders to closely monitor the company's capital structure and debt management practices to assess its financial health and stability.
Peer comparison
Dec 31, 2023