Progress Software Corporation (PRGS)

Debt-to-assets ratio

Nov 30, 2024 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
Long-term debt US$ in thousands 1,526,270 795,282 794,277 691,262 710,883 743,634 776,362 804,102 611,845 612,887 613,904 614,934 534,527 538,658 542,780 343,758 364,260 271,261 276,762 280,382
Total assets US$ in thousands 2,526,970 1,619,880 1,586,380 1,547,770 1,602,780 1,597,470 1,601,880 1,643,610 1,411,480 1,346,290 1,354,580 1,353,120 1,363,540 1,275,490 1,239,990 1,027,060 1,041,780 919,468 895,602 890,182
Debt-to-assets ratio 0.60 0.49 0.50 0.45 0.44 0.47 0.48 0.49 0.43 0.46 0.45 0.45 0.39 0.42 0.44 0.33 0.35 0.30 0.31 0.31

November 30, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,526,270K ÷ $2,526,970K
= 0.60

Progress Software Corporation's debt-to-assets ratio has been relatively stable over the past few years, ranging from 0.30 to 0.60. This ratio measures the proportion of the company's assets funded by debt, with higher ratios indicating a higher level of debt relative to assets.

The ratio increased from 0.31 in February 2020 to 0.60 in November 2024, showing a significant rise in the level of debt compared to assets during this period. This may indicate that the company has been taking on more debt to finance its operations or investments.

However, the ratio fluctuated between 0.30 and 0.49 in the intervening periods, suggesting some volatility in the company's debt levels relative to its asset base. A ratio above 0.50, as seen in May 2024 and November 2024, could signal potential financial risk, as it indicates that a majority of the company's assets are financed by debt.

Overall, it is important for investors and stakeholders to monitor Progress Software Corporation's debt-to-assets ratio over time to assess the company's financial leverage and ability to meet its debt obligations.