JM Smucker Company (SJM)
Debt-to-assets ratio
| Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 6,773,700 | 8,121,100 | 7,771,700 | 4,315,100 | 4,314,200 | 4,313,300 | 4,312,400 | 4,311,500 | 4,310,600 | 4,309,700 | 4,308,800 | 3,517,500 | 3,516,800 | 3,915,300 | 3,914,500 | 4,672,800 | 5,373,300 | 4,583,300 | 4,584,500 | 4,685,300 |
| Total assets | US$ in thousands | 20,273,700 | 20,247,200 | 18,123,700 | 14,711,800 | 14,991,400 | 16,017,500 | 16,219,300 | 16,276,700 | 16,055,000 | 15,966,400 | 16,240,800 | 16,211,700 | 16,284,200 | 16,429,400 | 16,929,700 | 16,902,300 | 16,970,400 | 16,636,200 | 16,791,000 | 16,791,600 |
| Debt-to-assets ratio | 0.33 | 0.40 | 0.43 | 0.29 | 0.29 | 0.27 | 0.27 | 0.26 | 0.27 | 0.27 | 0.27 | 0.22 | 0.22 | 0.24 | 0.23 | 0.28 | 0.32 | 0.28 | 0.27 | 0.28 |
April 30, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $6,773,700K ÷ $20,273,700K
= 0.33
The debt-to-assets ratio of JM Smucker Company has shown some fluctuations over the past few years. As of April 30, 2024, the ratio stands at 0.33, indicating that 33% of the company's assets are financed by debt.
Looking at the trend over the past two years, the ratio has ranged from 0.22 to 0.43, with the highest point in October 2023 and the lowest point in January 2022. This suggests that the company has been managing its debt levels relative to its assets quite actively during this period.
Overall, the debt-to-assets ratio provides an insight into JM Smucker Company's leverage and financial risk. A lower ratio indicates that the company has a lesser reliance on debt to finance its operations, which can be viewed positively by creditors and investors. However, it's essential to monitor this ratio over time to assess the company's long-term financial stability and debt management strategies.