Graham Holdings Co (GHC)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	745,082	570,547	525,752	506,103	430,650
Total assets	US$ in thousands	7,187,730	6,553,380	7,425,520	6,444,120	5,931,240
Debt-to-assets ratio		0.10	0.09	0.07	0.08	0.07

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $745,082K ÷ $7,187,730K
= 0.10

The debt-to-assets ratio of Graham Holdings Co. has been relatively stable over the past five years, ranging between 0.08 and 0.11. This indicates that the company has maintained a conservative approach towards financing its operations using debt, with a significant portion of its assets being financed through equity. The consistent low to moderate level of debt relative to assets suggests a lower risk of financial distress and indicates a strong financial position. Overall, the company's debt-to-assets ratio reflects a prudent capital structure strategy that prioritizes financial stability and resilience.