Altria Group (MO)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | -3,540,000 | -3,407,000 | -3,827,000 | -3,876,000 | -3,973,000 | -4,232,000 | -2,403,000 | -1,760,000 | -1,606,000 | -1,267,000 | 3,257,000 | 2,913,000 | 2,839,000 | 3,139,000 | 5,688,000 | 6,543,000 | 6,222,000 | 10,545,000 | 14,464,000 | 14,079,000 |
| Debt-to-capital ratio | 1.16 | 1.17 | 1.19 | 1.19 | 1.19 | 1.21 | 1.11 | 1.07 | 1.06 | 1.05 | 0.90 | 0.91 | 0.91 | 0.90 | 0.83 | 0.80 | 0.81 | 0.72 | 0.65 | 0.66 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $25,112,000K ÷ ($25,112,000K + $-3,540,000K)
= 1.16
The debt-to-capital ratio of Altria Group Inc. has shown relatively stable levels in the range of 1.07 to 1.19 over the past eight quarters. This ratio indicates the proportion of the company's capital structure funded by debt compared to total capital, including debt and equity.
The slightly higher ratios observed in Q1 2023 (1.18) and Q4 2022 (1.17) suggest that Altria Group Inc. relied more on debt financing during those periods. However, the ratios remained relatively consistent around the 1.16 level in the most recent quarters, Q4 2023, Q3 2023, and Q2 2023, indicating a stable capital structure with a consistent mix of debt and equity.
Overall, the trend in Altria Group Inc.'s debt-to-capital ratio indicates a moderate reliance on debt to finance operations and investments, with a relatively stable capital structure over the past two years. This consistent ratio suggests that the company has been managing its debt levels in proportion to its capital base, maintaining a balance between debt and equity financing.
Peer comparison
Dec 31, 2023