Comfort Systems USA Inc (FIX)
Financial leverage ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 4,711,090 | 4,412,760 | 4,213,980 | 3,902,830 | 3,305,580 | 3,140,620 | 2,915,120 | 2,839,470 | 2,597,480 | 2,549,470 | 2,439,620 | 2,308,410 | 2,209,110 | 1,951,330 | 1,754,950 | 1,715,530 | 1,757,360 | 1,677,970 | 1,675,440 | 1,618,070 |
| Total stockholders’ equity | US$ in thousands | 1,704,680 | 1,587,720 | 1,482,290 | 1,372,540 | 1,277,830 | 1,207,160 | 1,111,460 | 1,053,490 | 999,923 | 951,132 | 896,845 | 878,408 | 805,666 | 771,789 | 752,012 | 723,103 | 696,429 | 668,126 | 628,433 | 593,043 |
| Financial leverage ratio | 2.76 | 2.78 | 2.84 | 2.84 | 2.59 | 2.60 | 2.62 | 2.70 | 2.60 | 2.68 | 2.72 | 2.63 | 2.74 | 2.53 | 2.33 | 2.37 | 2.52 | 2.51 | 2.67 | 2.73 |
December 31, 2024 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $4,711,090K ÷ $1,704,680K
= 2.76
Comfort Systems USA Inc's financial leverage ratio has been relatively stable over the period from March 31, 2020, to December 31, 2024, fluctuating between 2.37 and 2.84. The financial leverage ratio measures the extent to which the company relies on debt financing compared to equity financing. A ratio above 1 indicates that the company has more debt than equity in its capital structure.
The trend in Comfort Systems USA Inc's financial leverage ratio shows some variability, with slight decreases followed by increases over the years. The ratio reached its lowest point of 2.37 on March 31, 2021, and its highest point of 2.84 on March 31, 2024. This suggests that the company may have increased its reliance on debt financing during certain periods, which could indicate a need to finance operations, growth, or capital investments.
Overall, with a financial leverage ratio averaging around 2.6 to 2.7 during the period, Comfort Systems USA Inc maintains a moderate level of financial leverage. It is important for the company to carefully manage its debt levels to ensure it can meet its obligations and maintain financial stability in both favorable and challenging economic conditions.
Peer comparison
Dec 31, 2024