Group 1 Automotive Inc (GPI)

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	840,900	843,000	845,100	847,200	849,200	851,200	853,300	855,700	831,300	629,300	631,000	632,600	634,300	638,100	636,900	586,100	40,700	888,800	913,559	—
Total assets	US$ in thousands	7,774,100	7,439,600	7,424,600	6,923,200	6,717,500	6,251,500	6,102,800	6,039,600	5,749,400	4,757,600	4,855,900	5,065,100	5,089,400	4,983,400	4,859,600	5,441,100	5,570,200	5,329,000	5,225,760	5,263,490
Debt-to-assets ratio		0.11	0.11	0.11	0.12	0.13	0.14	0.14	0.14	0.14	0.13	0.13	0.12	0.12	0.13	0.13	0.11	0.01	0.17	0.17	0.00

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $840,900K ÷ $7,774,100K
= 0.11

The debt-to-assets ratio for Group 1 Automotive, Inc. has been relatively stable over the past eight quarters, ranging between 0.43 and 0.47. This ratio indicates the proportion of the company's assets financed through debt, with values closer to 1 implying higher debt reliance for asset financing.

The fluctuation within this narrow range suggests that the company has maintained a consistent level of debt relative to its total assets. A ratio around 0.45 to 0.46 indicates that approximately 45-46% of Group 1 Automotive's assets are funded by debt, while the rest is financed through equity.

Overall, the stability in the debt-to-assets ratio indicates a balanced approach to capital structure management by Group 1 Automotive, Inc., with a moderate reliance on debt for asset financing while ensuring a significant portion of assets remains equity-financed.