Hormel Foods Corporation (HRL)
Debt-to-assets ratio
| Oct 31, 2024 | Oct 27, 2024 | Oct 31, 2023 | Oct 29, 2023 | Oct 31, 2022 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | 2,850,940 | — | 2,358,720 | — |
| Total assets | US$ in thousands | 13,434,700 | 13,434,700 | 13,448,800 | 13,448,800 | 13,306,900 |
| Debt-to-assets ratio | 0.00 | 0.21 | 0.00 | 0.18 | 0.00 |
October 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $13,434,700K
= 0.00
The debt-to-assets ratio of Hormel Foods Corporation has shown fluctuations over the past few years. As of October 31, 2022, the company had a debt-to-assets ratio of 0.00, indicating that it had no debt relative to its total assets. This suggests that the company was financing its operations primarily through equity.
In the following year, the ratio increased to 0.18 as of October 29, 2023, signaling that the company took on some debt compared to its assets. However, by October 31, 2023, the ratio decreased back to 0.00, indicating a reduction in debt relative to assets.
By October 27, 2024, the debt-to-assets ratio rose to 0.21, reflecting an increase in the proportion of debt to assets. However, by October 31, 2024, the ratio decreased again to 0.00, suggesting a reduction in debt levels relative to total assets.
Overall, the varying trend of the debt-to-assets ratio for Hormel Foods Corporation indicates a mix of leveraging strategies over the years, with the company maintaining a relatively low debt burden compared to its asset base.