Lindsay Corporation (LNN)
Debt-to-assets ratio
| Aug 31, 2024 | Aug 31, 2023 | Aug 31, 2022 | Aug 31, 2021 | Aug 31, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 114,994 | 115,164 | 115,341 | 115,514 | 115,682 |
| Total assets | US$ in thousands | 760,232 | 745,660 | 710,653 | 637,185 | 570,526 |
| Debt-to-assets ratio | 0.15 | 0.15 | 0.16 | 0.18 | 0.20 |
August 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $114,994K ÷ $760,232K
= 0.15
The debt-to-assets ratio of Lindsay Corporation has shown a decreasing trend from 0.20 in 2020 to 0.15 in 2023 and 2024, indicating a lower reliance on debt funding relative to total assets. A decreasing trend in the debt-to-assets ratio suggests that the company's proportion of assets financed by debt has been declining over the years, which could signify a stronger financial position and lower financial risk. This trend may also indicate efficient management of capital structure and a conservative approach to leveraging the company's assets. Overall, the decreasing debt-to-assets ratio trend reflects positively on Lindsay Corporation's financial health and stability.
Peer comparison
Aug 31, 2024