Cencora Inc. (COR)
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 | 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 |
| 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 |
| Financial leverage ratio | 70.96 | 119.84 | 89.18 | 208.62 | — | — | 254.90 | 104.14 | 238.37 | 256.71 | 1,473.34 | — | — | — | 10.57 | 11.71 | 13.54 | 13.61 | 12.87 | 13.29 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $64,690,300K ÷ $911,703K
= 70.96
The financial leverage ratio measures the proportion of a company's financial resources that come from debt. Cencora Inc.'s financial leverage ratio has shown significant variability over the past eight quarters. The ratio was 70.96 at the end of December 2023, indicating that the company had $70.96 of assets for every $1 of equity. This suggests a moderate level of financial leverage. However, the ratio had increased to 119.84 at the end of September 2023, signaling a significant increase in leverage.
Prior to that, the ratio was 89.18 at the end of June 2023, which indicates a relatively lower level of leverage compared to the previous quarter. The financial leverage ratio was at its highest at the end of March 2023, reaching 208.62, suggesting a substantial reliance on debt to finance assets at that time.
Notably, the financial leverage ratio was not available for the last two quarters of 2022. However, in the second quarter of 2022, it was at an elevated level of 254.90, which indicates a high degree of financial leverage during that period.
Overall, the trend in Cencora Inc.'s financial leverage ratio reflects significant fluctuations in its capital structure and suggests that the company has undergone varying levels of reliance on debt to finance its assets during the analyzed period.
Peer comparison
Dec 31, 2023