SJW Corporation (SJW)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	1,526,700	1,491,960	1,492,940	1,287,580	1,283,600
Total assets	US$ in thousands	4,345,070	3,755,060	3,492,400	3,311,460	3,132,470
Debt-to-assets ratio		0.35	0.40	0.43	0.39	0.41

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,526,700K ÷ $4,345,070K
= 0.35

The debt-to-assets ratio of SJW Group has shown fluctuations over the past five years. As of December 31, 2023, the ratio stands at 0.40, indicating that 40% of the company's assets are financed through debt.

The trend in the ratio indicates a slight decrease from the previous year, where it was at 0.46 for three consecutive years (2022, 2021, and 2020). This suggests that SJW Group has potentially been reducing its reliance on debt to finance its assets.

In comparison to the ratio in 2019, there has been a slight improvement, where the ratio was at 0.45. This indicates that the company has slightly strengthened its financial position by decreasing its debt relative to its assets.

Overall, a decreasing trend in the debt-to-assets ratio could be seen as positive, as it may indicate improved financial health and lower financial risk for the company.