Kellanova (K)

Financial leverage ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Total assets	US$ in thousands	15,628,000	15,763,000	15,299,000	15,315,000	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
Total stockholders’ equity	US$ in thousands	3,775,000	3,650,000	3,307,000	3,152,000	3,175,000	4,038,000	3,965,000	4,052,000	3,941,000	4,283,000	4,082,000	3,795,000	3,720,000	3,484,000	3,362,000	3,138,000	3,112,000	3,044,000	2,870,000	2,674,000
Financial leverage ratio		4.14	4.32	4.63	4.86	4.92	4.63	4.57	4.60	4.69	4.44	4.64	4.90	4.89	5.28	5.42	5.76	5.78	6.22	6.46	6.82

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $15,628,000K ÷ $3,775,000K
= 4.14

The financial leverage ratio of Kellanova has been trending downwards over the past few years, indicating a decreasing reliance on debt to finance its operations and investments. The ratio started at 6.82 on March 31, 2020, and gradually decreased to 4.14 by December 31, 2024. This reduction in the financial leverage ratio suggests that Kellanova has been effectively managing its debt levels relative to its equity, potentially reducing financial risk and increasing financial stability. The decreasing trend signals a positive development in the company's capital structure, as lower financial leverage ratios generally indicate a healthier financial position and improved ability to meet financial obligations.