Comfort Systems USA Inc (FIX)
Debt-to-equity 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 stockholders’ equity | US$ in thousands | 1,277,830 | 999,923 | 805,666 | 696,429 | 585,304 |
| Debt-to-equity ratio | 0.03 | 0.25 | 0.48 | 0.34 | 0.35 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $39,345K ÷ $1,277,830K
= 0.03
The debt-to-equity ratio of Comfort Systems USA, Inc. has exhibited fluctuations over the past five years. A lower ratio generally indicates lower financial risk and less reliance on debt financing.
The ratio was notably low at 0.03 as of December 31, 2023, suggesting a conservative capital structure with a minimal amount of debt relative to equity. This could indicate a strong financial position and potentially an ability to fund operations and growth through internal resources.
In contrast, the ratio was significantly higher in the previous years, reaching as high as 0.48 at the end of 2021. This indicated a higher level of debt relative to equity, potentially signaling higher financial leverage and risk in those periods.
The fluctuation in the debt-to-equity ratio may indicate changes in the company's financing strategy, investment decisions, or economic conditions impacting its capital structure. It would be important to further examine the company's financial statements and disclosures to understand the reasons behind these fluctuations and assess the overall financial health and risk profile of Comfort Systems USA, Inc.
Peer comparison
Dec 31, 2023