Graham Holdings Co (GHC)

Debt-to-assets 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
Long-term debt	US$ in thousands	745,082	739,806	565,564	568,101	570,547	568,534	511,574	523,102	525,752	511,635	506,079	506,091	506,103	509,282	505,672	430,317	430,650	420,535	497,094	500,238
Total assets	US$ in thousands	7,187,730	6,689,190	6,603,960	6,542,200	6,553,380	7,277,130	7,161,300	7,360,140	7,425,520	6,679,470	6,576,540	6,518,420	6,444,120	5,811,510	5,672,320	5,645,820	5,931,240	5,487,750	5,212,950	5,197,230
Debt-to-assets ratio		0.10	0.11	0.09	0.09	0.09	0.08	0.07	0.07	0.07	0.08	0.08	0.08	0.08	0.09	0.09	0.08	0.07	0.08	0.10	0.10

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 remained fairly stable over the past eight quarters, ranging between 0.08 and 0.11. This indicates that the company has been maintaining a conservative financial structure with a low level of debt relative to its total assets.

The ratio of 0.11 in Q4 2023 is consistent with the trend observed in previous quarters, suggesting that Graham Holdings Co. continues to manage its debt levels prudently. The slight increase from the previous quarter may indicate a minor adjustment in the company's capital structure, but overall, the ratio remains at a relatively low level.

Additionally, comparing the current ratio with the same quarter in the previous year shows that there has been an increase from 0.10 in Q4 2022 to 0.11 in Q4 2023. This could imply that the company has taken on slightly more debt compared to its assets over the year, but the increase is marginal and may not signify a significant shift in the company's financial leverage.

In conclusion, Graham Holdings Co. has maintained a consistent and conservative debt-to-assets ratio over the past quarters, suggesting a stable financial position and a prudent approach to managing its debt levels.