Lindsay Corporation (LNN)
Debt-to-assets ratio
| Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 115,075 | 115,120 | 115,164 | 115,209 | 115,253 | 115,297 | 115,341 | 115,384 | 115,428 | 115,471 | 115,514 | 115,557 | 115,599 | 115,641 | 115,682 | 115,723 | 115,765 | 115,805 | 115,846 | 115,885 |
| Total assets | US$ in thousands | 765,280 | 763,918 | 745,660 | 723,618 | 709,080 | 708,296 | 710,653 | 711,916 | 676,584 | 649,445 | 637,185 | 642,217 | 596,648 | 575,202 | 570,526 | 557,486 | 534,330 | 526,811 | 500,314 | 505,922 |
| Debt-to-assets ratio | 0.15 | 0.15 | 0.15 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.17 | 0.18 | 0.18 | 0.18 | 0.19 | 0.20 | 0.20 | 0.21 | 0.22 | 0.22 | 0.23 | 0.23 |
February 29, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $115,075K ÷ $765,280K
= 0.15
The debt-to-assets ratio of Lindsay Corporation has been relatively stable over the analyzed periods, ranging from 0.15 to 0.23. This ratio indicates the proportion of the company's assets that are financed by debt, with lower values suggesting less reliance on debt financing.
Lindsay Corporation's debt-to-assets ratio has shown a slight upward trend in recent periods, increasing from 0.15 in February 2024 to 0.23 in May 2019. This suggests a potential increase in the company's leverage and debt levels over time.
It is important to note that while a higher debt-to-assets ratio may indicate higher financial risk due to increased debt obligations, it can also signal efficient utilization of debt to finance growth opportunities.
Overall, a detailed analysis of the company's financial position, including the composition of its debt and the nature of its assets, would provide a more comprehensive understanding of the implications of the debt-to-assets ratio for Lindsay Corporation's financial health.
Peer comparison
Feb 29, 2024