Altria Group (MO)
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 | 25,112,000 | 23,977,000 | 24,074,000 | 24,048,000 | 25,124,000 | 24,848,000 | 25,046,000 | 25,405,000 | 26,939,000 | 27,022,000 | 28,241,000 | 28,180,000 | 27,971,000 | 27,755,000 | 27,542,000 | 26,971,000 | 27,042,000 | 26,903,000 | 27,096,000 | 27,024,000 |
| Total assets | US$ in thousands | 38,570,000 | 36,469,000 | 37,151,000 | 36,826,000 | 36,954,000 | 33,953,000 | 36,746,000 | 40,235,000 | 39,523,000 | 39,564,000 | 44,388,000 | 48,776,000 | 47,414,000 | 46,651,000 | 50,200,000 | 52,618,000 | 49,271,000 | 52,913,000 | 57,501,000 | 59,233,000 |
| Debt-to-assets ratio | 0.65 | 0.66 | 0.65 | 0.65 | 0.68 | 0.73 | 0.68 | 0.63 | 0.68 | 0.68 | 0.64 | 0.58 | 0.59 | 0.59 | 0.55 | 0.51 | 0.55 | 0.51 | 0.47 | 0.46 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $25,112,000K ÷ $38,570,000K
= 0.65
The debt-to-assets ratio of Altria Group Inc. has fluctuated over the past eight quarters, ranging from 0.68 to 0.77. In the most recent quarter, Q4 2023, the ratio stood at 0.68, indicating that 68% of the company's assets were financed through debt.
The trend in the debt-to-assets ratio suggests that Altria has been managing its debt levels relative to its assets with some variability. The ratio was relatively stable around 0.69 to 0.73 during the first three quarters of 2023, after a peak of 0.77 in Q3 2022.
A lower debt-to-assets ratio generally indicates lower financial risk and greater financial stability as the company relies less on debt to finance its operations. Conversely, a higher ratio may imply increased financial risk as a significant portion of assets are financed through debt, potentially leading to higher interest expenses and liquidity challenges.
Overall, the debt-to-assets ratio analysis for Altria Group Inc. suggests that the company has been moderately leveraging its assets with debt financing, although fluctuations in the ratio point to varying degrees of leverage over the quarters analyzed.
Peer comparison
Dec 31, 2023