Comfort Systems USA Inc (FIX)
Financial leverage 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 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 | 1,505,010 | 1,467,460 | 1,444,600 | 1,080,030 |
| Total stockholders’ equity | US$ in thousands | 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 | 585,304 | 557,630 | 532,088 | 515,195 |
| Financial leverage ratio | 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 | 2.57 | 2.63 | 2.71 | 2.10 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $3,305,580K ÷ $1,277,830K
= 2.59
Comfort Systems USA, Inc.'s financial leverage ratio has shown some fluctuation over the past eight quarters, ranging from 2.59 to 2.72. The ratio indicates that the company is utilizing a reasonable level of debt to finance its operations and growth initiatives compared to its equity.
A decreasing trend in the financial leverage ratio might suggest that the company is reducing its reliance on debt to fund its activities over time. Conversely, an increasing trend may indicate an expansion strategy that involves taking on more debt to support growth opportunities.
The company's financial leverage ratio of 2.59 to 2.72 falls within a moderate range, indicating a balanced approach to capital structure. It would be important to assess the company's overall financial health, debt servicing capability, and future growth prospects in conjunction with this ratio to gain a comprehensive understanding of its leverage position.
Peer comparison
Dec 31, 2023