Crane Company (CR)
Debt-to-assets ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | ||
|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 248,500 | 250,300 | 262,300 | — |
| Total assets | US$ in thousands | 2,333,600 | 2,191,900 | 2,179,100 | 2,231,700 |
| Debt-to-assets ratio | 0.11 | 0.11 | 0.12 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $248,500K ÷ $2,333,600K
= 0.11
The debt-to-assets ratio of Crane Company has been relatively stable over the past year, ranging from 0.00 to 0.12. In general, a lower debt-to-assets ratio indicates a stronger financial position and lower financial risk as it signifies the company has a lower level of debt relative to its total assets.
The sudden increase in the debt-to-assets ratio in the second quarter of 2023 to 0.12 may indicate a potential increase in debt levels or a decrease in asset values during that period. However, the subsequent decrease back to 0.11 in the third quarter suggests that this may have been a temporary fluctuation rather than a sustained trend.
It is important to further investigate the factors contributing to these fluctuations in the debt-to-assets ratio to assess the company's overall financial health and its ability to meet its debt obligations. Additional context and information about the company's financial strategy and industry dynamics would be needed to provide a more comprehensive analysis.
Peer comparison
Dec 31, 2023