Lindsay Corporation (LNN)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 480,893 | 479,996 | 483,034 | 466,860 | 455,651 | 436,796 | 422,272 | 404,788 | 393,358 | 380,770 | 356,538 | 341,943 | 338,445 | 336,173 | 319,024 | 303,901 | 298,518 | 282,958 | 277,327 | 273,000 |
| Debt-to-capital ratio | 0.19 | 0.19 | 0.19 | 0.20 | 0.20 | 0.21 | 0.21 | 0.22 | 0.23 | 0.23 | 0.24 | 0.25 | 0.25 | 0.26 | 0.27 | 0.28 | 0.28 | 0.29 | 0.29 | 0.30 |
August 31, 2024 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $114,994K ÷ ($114,994K + $480,893K)
= 0.19
The debt-to-capital ratio of Lindsay Corporation has been fluctuating over the past several periods but has generally shown an increasing trend. The ratio was relatively stable around 0.19 to 0.21 from November 2019 to February 2023, but then started to increase steadily, reaching 0.30 by February 2022.
The increasing trend in the debt-to-capital ratio may indicate that Lindsay Corporation has been taking on more debt relative to its total capital over time. This could suggest a higher reliance on debt financing, which may increase financial risk and interest expense for the company.
Furthermore, a higher debt-to-capital ratio could signal potential difficulties in meeting debt obligations or decreased financial flexibility, especially in times of economic uncertainty or industry challenges. It is important for investors and stakeholders to closely monitor this ratio over time to assess Lindsay Corporation's financial health and leverage levels.
Peer comparison
Aug 31, 2024