Lindsay Corporation (LNN)
Debt-to-assets ratio
| Aug 31, 2024 | May 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 114,994 | 115,029 | 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 |
| Total assets | US$ in thousands | 760,232 | 758,101 | 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 |
| Debt-to-assets ratio | 0.15 | 0.15 | 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 |
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 remained relatively stable over the past several quarters, ranging between 0.15 and 0.22. This ratio indicates the proportion of the company's assets that are financed through debt. With a ratio consistently below 1, Lindsay Corporation's assets are primarily funded by equity, which suggests a lower financial risk compared to companies with higher debt levels. The slight increase in the ratio from 0.15 to 0.22 over the period indicates a gradual increase in debt relative to assets, which could be attributed to various factors such as investments in growth initiatives or acquisitions. Overall, the consistent and relatively low debt-to-assets ratio reflects a conservative capital structure and indicates a lower reliance on debt financing for Lindsay Corporation.
Peer comparison
Aug 31, 2024