Laboratory Corporation of America Holdings (LH)
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 | 4,054,700 | 4,427,600 | 5,042,400 | 5,052,300 | 5,038,800 | 5,334,300 | 5,360,300 | 5,383,300 | 5,416,500 | 5,417,200 | 5,422,600 | 4,920,900 | 5,419,000 | 5,417,300 | 5,416,600 | 5,790,200 | 5,789,800 | 6,101,300 | 6,135,000 | 5,495,600 |
| Total assets | US$ in thousands | 16,725,100 | 16,886,000 | 17,718,700 | 20,200,000 | 20,155,100 | 19,826,000 | 20,403,100 | 20,728,400 | 20,385,400 | 20,866,500 | 20,417,100 | 20,417,100 | 20,071,700 | 18,739,600 | 17,849,100 | 17,298,400 | 18,046,400 | 17,847,800 | 17,744,400 | 16,970,800 |
| Debt-to-assets ratio | 0.24 | 0.26 | 0.28 | 0.25 | 0.25 | 0.27 | 0.26 | 0.26 | 0.27 | 0.26 | 0.27 | 0.24 | 0.27 | 0.29 | 0.30 | 0.33 | 0.32 | 0.34 | 0.35 | 0.32 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $4,054,700K ÷ $16,725,100K
= 0.24
The debt-to-assets ratio for Laboratory Corp. Of America Holdings has been relatively stable over the past eight quarters, ranging from 0.26 to 0.33. This ratio indicates the proportion of the company's assets financed by debt, with lower values suggesting lower financial risk. The ratio peaked at 0.33 in Q3 2023 and Q2 2023, reflecting a higher level of debt compared to assets during those periods. Conversely, in Q1 2022 and Q4 2022, the ratio was at its lowest at 0.26, indicating a higher proportion of assets financed by equity. Overall, the company appears to maintain a conservative debt-to-assets structure, which is generally viewed positively by investors and creditors.
Peer comparison
Dec 31, 2023