MDU Resources Group Inc (MDU)
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 | 2,236,900 | 2,279,830 | 2,246,100 | 2,769,040 | 2,317,850 | 2,192,410 | 2,003,880 | 2,599,810 | 2,593,850 | 2,326,720 | 2,335,500 | 2,251,720 | 2,211,580 | 2,268,730 | 2,265,320 | 2,438,680 | 2,226,570 | 2,180,950 | 2,327,980 | 1,946,180 |
| Total assets | US$ in thousands | 7,833,160 | 7,869,150 | 7,684,850 | 9,842,590 | 9,660,780 | 9,607,130 | 9,318,960 | 8,970,720 | 8,910,440 | 8,568,860 | 8,298,210 | 8,069,280 | 8,053,370 | 8,125,500 | 7,911,130 | 7,850,520 | 7,683,060 | 7,730,610 | 7,591,490 | 7,278,920 |
| Debt-to-assets ratio | 0.29 | 0.29 | 0.29 | 0.28 | 0.24 | 0.23 | 0.22 | 0.29 | 0.29 | 0.27 | 0.28 | 0.28 | 0.27 | 0.28 | 0.29 | 0.31 | 0.29 | 0.28 | 0.31 | 0.27 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,236,900K ÷ $7,833,160K
= 0.29
The debt-to-assets ratio of MDU Resources Group Inc has shown relative stability over the past eight quarters, ranging between 0.31 and 0.34. This indicates that, on average, approximately 31% to 34% of the company's assets are funded by debt. The consistency in this ratio suggests that the company has been maintaining a moderate level of debt relative to its asset base.
A ratio below 1 typically indicates that the company's assets are predominantly financed by equity rather than debt. In the case of MDU Resources Group Inc, the average ratio of around 0.32 indicates a conservative approach to debt financing, with a significant portion of the company's assets being funded through equity.
Overall, the trend in the debt-to-assets ratio suggests that MDU Resources Group Inc has been managing its capital structure effectively, striking a balance between leveraging debt for growth opportunities while also maintaining a healthy level of equity in its capital structure.
Peer comparison
Dec 31, 2023