Patterson Companies Inc (PDCO)
Debt-to-assets ratio
| Apr 27, 2024 | Apr 29, 2023 | Apr 30, 2022 | Apr 24, 2021 | Apr 25, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 328,911 | 451,231 | 488,554 | 487,545 | 587,766 |
| Total assets | US$ in thousands | 2,896,730 | 2,879,150 | 2,741,630 | 2,751,510 | 2,715,350 |
| Debt-to-assets ratio | 0.11 | 0.16 | 0.18 | 0.18 | 0.22 |
April 27, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $328,911K ÷ $2,896,730K
= 0.11
The debt-to-assets ratio of Patterson Companies Inc has shown a decreasing trend over the past five years, indicating a strengthening financial position in terms of leverage. The ratio has decreased from 0.22 in 2020 to 0.11 in 2024. This suggests that the company has been able to reduce its level of debt relative to its total assets over this period.
A lower debt-to-assets ratio signifies that Patterson Companies Inc relies less on debt financing to fund its operations and investments, which can be viewed positively by investors and creditors. It indicates a lower financial risk for the company as it has a higher proportion of assets funded by equity rather than debt.
Overall, the decreasing trend in the debt-to-assets ratio reflects improved financial stability and a more conservative approach to capital structure by Patterson Companies Inc in recent years.
Peer comparison
Apr 27, 2024