California Water Service Group (CWT)

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	1,052,770	1,051,850	1,052,070	1,052,340	1,052,490	1,053,940	1,054,170	1,055,640	1,055,790	1,059,720	1,059,940	780,951	781,100	785,055	785,257	786,467	786,754	807,478	807,693	710,602
Total assets	US$ in thousands	4,595,530	4,041,360	3,990,200	3,886,860	4,264,810	3,806,400	3,682,750	3,639,240	3,623,270	3,679,690	3,548,750	3,471,470	3,394,250	3,506,430	3,359,930	3,240,840	3,111,310	3,023,250	2,964,600	2,900,660
Debt-to-assets ratio		0.23	0.26	0.26	0.27	0.25	0.28	0.29	0.29	0.29	0.29	0.30	0.22	0.23	0.22	0.23	0.24	0.25	0.27	0.27	0.24

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,052,770K ÷ $4,595,530K
= 0.23

The debt-to-assets ratio of California Water Service Group has been relatively stable over the past eight quarters, ranging from 0.27 to 0.31. This ratio indicates the proportion of the company's assets that are financed through debt.

A lower debt-to-assets ratio suggests a lower dependency on debt financing to acquire assets, which can be viewed positively by investors and creditors as it signifies lower financial risk. In this case, the company maintains a moderate level of debt relative to its assets, indicating a balanced capital structure.

Overall, the trend of the debt-to-assets ratio for California Water Service Group over the past eight quarters shows consistency and prudence in managing its debt levels in relation to its assets.