Griffon Corporation (GFF)
Debt-to-assets ratio
| 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 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,515,900 | 1,499,210 | 1,577,210 | 1,430,240 | 1,459,900 | 1,536,420 | 1,491,560 | 1,507,680 | 1,561,000 | 1,574,700 | 1,941,720 | 1,037,760 | 1,033,200 | 1,042,610 | 1,043,860 | 1,037,410 | 1,037,040 | 1,123,360 | 1,216,230 | 1,137,130 |
| Total assets | US$ in thousands | 2,370,950 | 2,378,860 | 2,423,730 | 2,393,310 | 2,418,880 | 2,571,220 | 2,660,160 | 2,777,240 | 2,816,470 | 3,504,230 | 3,787,020 | 2,582,740 | 2,604,680 | 2,548,660 | 2,524,280 | 2,484,440 | 2,448,590 | 2,310,220 | 2,318,750 | 2,257,800 |
| Debt-to-assets ratio | 0.64 | 0.63 | 0.65 | 0.60 | 0.60 | 0.60 | 0.56 | 0.54 | 0.55 | 0.45 | 0.51 | 0.40 | 0.40 | 0.41 | 0.41 | 0.42 | 0.42 | 0.49 | 0.52 | 0.50 |
September 30, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,515,900K ÷ $2,370,950K
= 0.64
The debt-to-assets ratio of Griffon Corporation has fluctuated over the past several quarters, ranging from 0.40 to 0.65. The ratio indicates the proportion of the company's assets that are financed through debt. During the most recent quarter, as of September 30, 2024, the debt-to-assets ratio was 0.64, suggesting that 64% of Griffon Corporation's assets were funded by debt.
Overall, the trend in the debt-to-assets ratio shows that Griffon Corporation has been gradually increasing its reliance on debt to finance its assets over the period analyzed. This could be a strategic decision to take advantage of low interest rates or to support growth initiatives. However, it is essential to monitor this trend to ensure that the company can effectively manage its debt levels and maintain financial stability.
It would be beneficial for stakeholders to further analyze the company's debt structure, repayment terms, and overall financial health to understand the implications of the increasing debt-to-assets ratio on Griffon Corporation's long-term sustainability and profitability.