Kellanova (K)
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 | 5,089,000 | 5,530,000 | 5,078,000 | 5,759,000 | 5,317,000 | 5,697,000 | 5,838,000 | 5,953,000 | 6,262,000 | 7,800,000 | 7,800,000 | 7,300,000 | 6,746,000 | 7,900,000 | 7,700,000 | 7,500,000 | 7,800,000 | 8,300,000 | 8,700,000 | 8,400,000 |
| Total assets | US$ in thousands | 15,621,000 | 18,695,000 | 18,101,000 | 18,630,000 | 18,496,000 | 19,016,000 | 18,937,000 | 18,612,000 | 18,178,000 | 18,407,000 | 18,213,000 | 18,064,000 | 17,996,000 | 18,922,000 | 18,551,000 | 18,240,000 | 17,564,000 | 17,499,000 | 18,669,000 | 18,465,000 |
| Debt-to-assets ratio | 0.33 | 0.30 | 0.28 | 0.31 | 0.29 | 0.30 | 0.31 | 0.32 | 0.34 | 0.42 | 0.43 | 0.40 | 0.37 | 0.42 | 0.42 | 0.41 | 0.44 | 0.47 | 0.47 | 0.45 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $5,089,000K ÷ $15,621,000K
= 0.33
The debt-to-assets ratio of Kellanova has shown some fluctuations over the past several quarters. The ratio ranged from 0.28 to 0.47 during the period from March 2019 to December 2023. Generally, lower values of the debt-to-assets ratio indicate a lower proportion of debt financing relative to total assets, which can be a sign of financial stability and lower financial risk.
Specifically, the ratio decreased from 0.47 in September 2019 to a low of 0.28 in June 2023, indicating a reduction in the company's reliance on debt financing compared to its total assets. However, the ratio increased to 0.42 in September 2021 and fluctuated between 0.30 and 0.33 in the most recent quarters.
It is important to further analyze the reasons behind these fluctuations in the debt-to-assets ratio in order to assess the overall financial health and risk profile of Kellanova. Further examination of the company's debt levels, asset composition, profitability, and business operations may provide more insights into its financial stability and risk management practices.
Peer comparison
Dec 31, 2023