Sherwin-Williams Co (SHW)
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 | 8,377,900 | 8,499,200 | 9,095,700 | 9,593,100 | 9,591,000 | 9,588,900 | 8,593,600 | 8,592,300 | 8,590,900 | 7,604,900 | 7,603,800 | 7,862,400 | 8,266,900 | 8,266,900 | 8,289,400 | 8,289,200 | 8,050,700 | 8,043,000 | 7,209,500 | 8,702,600 |
| Total assets | US$ in thousands | 22,954,000 | 23,004,500 | 23,166,100 | 23,129,900 | 22,594,000 | 22,245,800 | 22,052,800 | 21,730,400 | 20,667,000 | 20,736,600 | 20,519,600 | 20,435,000 | 20,401,600 | 20,809,700 | 20,494,500 | 20,570,300 | 20,496,200 | 20,864,300 | 21,186,100 | 20,961,600 |
| Debt-to-assets ratio | 0.36 | 0.37 | 0.39 | 0.41 | 0.42 | 0.43 | 0.39 | 0.40 | 0.42 | 0.37 | 0.37 | 0.38 | 0.41 | 0.40 | 0.40 | 0.40 | 0.39 | 0.39 | 0.34 | 0.42 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $8,377,900K ÷ $22,954,000K
= 0.36
The debt-to-assets ratio of Sherwin-Williams Co. has remained relatively stable over the past eight quarters. The ratio has ranged between 0.43 and 0.49 during this period, indicating that the company's reliance on debt to finance its assets has been consistent.
Despite some minor fluctuations, the ratio has generally stayed below 0.5, signaling that a significant portion of the company's assets is financed through equity rather than debt. This suggests a relatively low level of financial risk associated with the company's capital structure.
Overall, based on the trend in the debt-to-assets ratio, it appears that Sherwin-Williams Co. has maintained a prudent balance between debt and equity in funding its operations and investments.
Peer comparison
Dec 31, 2023