Greif Bros Corporation (GEF)

Debt-to-capital ratio

		Jan 31, 2024	Oct 31, 2023	Jul 31, 2023	Apr 30, 2023	Jan 31, 2023	Oct 31, 2022	Jul 31, 2022	Apr 30, 2022	Jan 31, 2022	Oct 31, 2021	Jul 31, 2021	Apr 30, 2021	Jan 31, 2021	Oct 31, 2020	Jul 31, 2020	Apr 30, 2020	Jan 31, 2020	Oct 31, 2019	Jul 31, 2019	Apr 30, 2019
Long-term debt	US$ in thousands	2,185,300	2,121,400	2,081,400	2,206,100	2,143,900	1,839,300	1,986,100	1,991,300	2,139,100	2,054,800	2,089,700	2,154,600	2,359,600	2,335,500	2,535,300	2,595,100	2,719,000	2,659,000	2,786,000	2,851,800
Total stockholders’ equity	US$ in thousands	1,992,500	1,947,900	1,948,300	1,879,800	1,845,400	1,761,300	1,701,100	1,686,400	1,493,300	1,514,300	1,448,900	1,374,200	1,205,300	1,152,200	1,141,300	1,083,200	1,163,800	1,133,100	1,120,600	1,086,600
Debt-to-capital ratio		0.52	0.52	0.52	0.54	0.54	0.51	0.54	0.54	0.59	0.58	0.59	0.61	0.66	0.67	0.69	0.71	0.70	0.70	0.71	0.72

January 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,185,300K ÷ ($2,185,300K + $1,992,500K)
= 0.52

The debt-to-capital ratio of Greif Inc has been relatively stable over the last eight quarters, ranging between 0.52 and 0.55. This ratio indicates that, on average, around 53% to 55% of Greif's capital structure is funded by debt. The consistency in the debt-to-capital ratio suggests that Greif has maintained a moderate level of leverage throughout the period, balancing its debt and equity financing effectively. Furthermore, the stability in the ratio implies that Greif's debt levels have been well-managed and within a reasonable range compared to its overall capital base.