Leggett & Platt Incorporated (LEG)
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 | 1,786,400 | 1,785,900 | 1,785,400 | 1,784,900 | 1,784,400 | — | — | — | 2,082,300 | — | — | — | 1,587,600 | — | — | — | — | — | — | — |
| Total assets | US$ in thousands | 4,634,500 | 5,077,600 | 5,144,300 | 5,270,000 | 5,186,100 | 5,175,200 | 5,230,600 | 5,341,800 | 5,307,300 | 5,235,100 | 5,150,100 | 4,911,600 | 4,800,000 | 4,663,800 | 4,582,100 | 4,982,000 | 4,855,400 | 4,857,800 | 5,002,000 | 4,953,800 |
| Debt-to-assets ratio | 0.39 | 0.35 | 0.35 | 0.34 | 0.34 | 0.00 | 0.00 | 0.00 | 0.39 | 0.00 | 0.00 | 0.00 | 0.33 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,786,400K ÷ $4,634,500K
= 0.39
The debt-to-assets ratio for Leggett & Platt, Inc. has shown some fluctuations over the past eight quarters. The ratio has ranged from 0.39 to 0.43 during these periods, indicating that the company has maintained a relatively stable level of debt relative to its total assets.
In Q4 2023, the ratio increased to 0.43 from 0.39 in the previous quarter, suggesting a slight increase in the proportion of debt used to finance the company's assets. It is important to note that a higher debt-to-assets ratio may imply higher financial risk as it indicates a larger proportion of the company's assets are funded through debt, which could potentially lead to higher interest expenses and financial vulnerabilities.
Overall, Leggett & Platt, Inc. has maintained a moderate level of debt utilization relative to its total assets, with the ratio staying within the range of 0.39 to 0.43 over the past eight quarters. Further analysis of the company's financial health and performance metrics would provide more insights into the effectiveness of its debt management strategies.
Peer comparison
Dec 31, 2023