Comfort Systems USA Inc (FIX)
Financial leverage ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 3,305,580 | 2,597,480 | 2,209,110 | 1,757,360 | 1,505,010 |
| Total stockholders’ equity | US$ in thousands | 1,277,830 | 999,923 | 805,666 | 696,429 | 585,304 |
| Financial leverage ratio | 2.59 | 2.60 | 2.74 | 2.52 | 2.57 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $3,305,580K ÷ $1,277,830K
= 2.59
The financial leverage ratio of Comfort Systems USA, Inc. has fluctuated over the past five years. The ratio indicates that the company has primarily relied on debt financing to fund its operations and growth initiatives. In 2021, the ratio peaked at 2.74, suggesting a higher level of financial risk due to increased debt relative to equity. However, in 2023, the ratio decreased to 2.59, indicating a slight improvement in the company's leverage position compared to the previous year.
Overall, Comfort Systems USA, Inc. has maintained a moderately high financial leverage ratio, hovering around the range of 2.50 to 2.75 over the past five years. Investors and stakeholders should closely monitor this ratio to assess the company's ability to meet its debt obligations and manage financial risk effectively.
Peer comparison
Dec 31, 2023