Eversource Energy (ES)

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	23,588,600	22,087,300	21,772,000	20,562,600	19,724,000	19,832,000	19,583,800	17,912,500	17,023,600	17,420,300	15,851,400	14,782,700	15,125,900	14,736,300	13,697,800	13,898,600	13,770,800	13,440,200	13,039,200	12,284,300
Total assets	US$ in thousands	55,612,200	56,293,300	54,539,700	54,105,200	53,230,900	51,599,400	49,916,200	49,289,200	48,492,100	48,014,100	47,234,600	46,518,200	46,099,600	43,507,300	42,038,700	41,649,000	41,123,900	39,725,400	38,995,900	38,941,000
Debt-to-assets ratio		0.42	0.39	0.40	0.38	0.37	0.38	0.39	0.36	0.35	0.36	0.34	0.32	0.33	0.34	0.33	0.33	0.33	0.34	0.33	0.32

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $23,588,600K ÷ $55,612,200K
= 0.42

The debt-to-assets ratio for Eversource Energy has been relatively stable over the past eight quarters, ranging from 0.42 to 0.48. This ratio indicates that, on average, approximately 43% to 48% of the company's total assets are financed through debt.

The trend shows a slight increase in the debt-to-assets ratio over the quarters, with a gradual rise from 0.42 in Q1 2022 to 0.48 in Q4 2023. This suggests that Eversource Energy has been taking on slightly more debt relative to its total assets over time.

Overall, the company's debt-to-assets ratio remains within a reasonable range, indicating that Eversource Energy has a balanced capital structure with a significant portion of its assets supported by debt financing, which is common in the utility industry. However, the upward trend in the ratio should be monitored to ensure that the company's debt levels do not become excessive and impact its financial health.