Comfort Systems USA Inc (FIX)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 39,345 | 247,245 | 385,242 | 235,733 | 205,318 |
| Total assets | US$ in thousands | 3,305,580 | 2,597,480 | 2,209,110 | 1,757,360 | 1,505,010 |
| Debt-to-assets ratio | 0.01 | 0.10 | 0.17 | 0.13 | 0.14 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $39,345K ÷ $3,305,580K
= 0.01
The debt-to-assets ratio of Comfort Systems USA, Inc. has experienced fluctuations over the past five years. The ratio was at its lowest in 2023 at 0.01, indicating that only a minimal portion of the company's assets were financed by debt. This sharp decline from the previous year suggests a significant decrease in the company's reliance on debt for funding its assets.
In 2022, the ratio was at its highest at 0.10, signifying that 10% of the company's assets were financed by debt. This increase from the prior year may indicate higher debt levels or a decrease in total assets during that period.
The ratio further increased to 0.18 in 2021, indicating a higher proportion of assets being financed by debt compared to the previous year. This significant rise may suggest a deliberate strategy of leveraging debt to support asset growth or a decrease in asset values during the period.
In 2020, the ratio was at 0.13, showing a moderate decrease from the previous year. This could indicate a stabilization in the company's debt and asset structure, with a slight reduction in the reliance on debt for asset financing.
Finally, in 2019, the ratio stood at 0.15, suggesting that 15% of the company's assets were funded by debt. This ratio indicates a fairly consistent level of debt usage for asset financing compared to the preceding year.
Overall, the fluctuation in Comfort Systems USA, Inc.'s debt-to-assets ratio over the five-year period reflects varying levels of reliance on debt to finance the company's assets. The significant decrease in 2023 indicates a shift towards a more conservative debt strategy, potentially aimed at reducing financial risk and enhancing financial stability.
Peer comparison
Dec 31, 2023