CVR Energy Inc (CVI)

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	2,100,000	—	—	—	1,400,000	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	US$ in thousands	4,707,000	4,421,000	4,217,000	4,208,000	4,119,000	4,206,000	4,671,000	4,345,000	3,906,000	3,872,000	3,798,000	4,188,000	3,978,000	3,876,000	3,928,000	4,125,000	3,905,000	3,962,000	3,830,000	3,874,000
Debt-to-assets ratio		0.45	0.00	0.00	0.00	0.34	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,100,000K ÷ $4,707,000K
= 0.45

The debt-to-assets ratio of CVR Energy Inc has shown some fluctuation over the past eight quarters. The ratio ranged from 0.34 to 0.46 during this period.

In Q4 2023, the debt-to-assets ratio increased to 0.46 compared to the previous quarter's ratio of 0.36. This suggests that the company's level of debt in relation to its total assets has increased, which could indicate a higher level of financial risk.

It is worth noting that the ratio has been relatively stable around the range of 0.34 to 0.39 for most of the quarters, indicating that the company has maintained a moderate level of leverage. A higher ratio indicates a higher proportion of debt relative to assets, which could potentially lead to higher interest payments and financial risk.

Overall, the trend in CVR Energy Inc's debt-to-assets ratio should be closely monitored to assess the company's financial health and risk profile, especially given the recent increase in the ratio in Q4 2023.