Corteva Inc (CTVA)
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 2,434,000 | 2,320,000 | 2,368,000 | 1,198,000 | 1,172,000 | 1,154,000 | 1,188,000 | 1,107,000 | 1,120,000 | 1,134,000 | 1,139,000 | 1,121,000 | 1,166,000 | 1,164,000 | 1,141,000 | 612,000 | 114,000 |
| Total assets | US$ in thousands | 42,996,000 | 43,110,000 | 44,189,000 | 45,500,000 | 42,618,000 | 40,651,000 | 40,906,000 | 42,633,000 | 42,344,000 | 41,122,000 | 41,496,000 | 42,549,000 | 42,649,000 | 41,690,000 | 42,180,000 | 42,978,000 | 42,397,000 |
| Debt-to-assets ratio | 0.06 | 0.05 | 0.05 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.01 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,434,000K ÷ $42,996,000K
= 0.06
The debt-to-assets ratio of Corteva Inc has varied over the past eight quarters, indicating changes in the company's financial leverage and risk. In Q4 2023, the ratio was 0.06, suggesting that only 6% of the company's assets were financed by debt. This represents a significant decrease from the previous quarter, where the ratio was 0.14.
The Q4 2023 ratio is also lower compared to the same period in the previous year (Q4 2022), which stood at 0.03. This indicates a more conservative debt structure in the current quarter relative to both the previous quarter and the same period last year.
Overall, the trend in the debt-to-assets ratio for Corteva Inc shows some fluctuations but generally remains at a relatively low level, indicating a conservative approach to debt financing and potentially lower financial risk.
Peer comparison
Dec 31, 2023