Scotts Miracle-Gro Company (SMG)
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 | 2,969,000 | 2,557,400 | 2,628,800 | 3,138,000 | 3,189,600 | 2,826,200 | 3,155,600 | 3,350,000 | 3,082,200 | 2,236,700 | 2,132,000 | 2,322,500 | 1,979,800 | 1,455,100 | 1,516,000 | 2,113,800 | 1,969,900 | 1,523,500 | 1,563,500 | 2,039,100 |
| Total assets | US$ in thousands | 3,716,100 | 3,413,700 | 4,454,400 | 4,988,100 | 4,534,000 | 4,296,800 | 4,993,700 | 6,207,500 | 5,242,200 | 4,800,000 | 4,621,100 | 4,934,100 | 4,000,700 | 3,380,500 | 3,876,800 | 4,135,700 | 3,456,000 | 3,028,700 | 3,467,400 | 3,956,500 |
| Debt-to-assets ratio | 0.80 | 0.75 | 0.59 | 0.63 | 0.70 | 0.66 | 0.63 | 0.54 | 0.59 | 0.47 | 0.46 | 0.47 | 0.49 | 0.43 | 0.39 | 0.51 | 0.57 | 0.50 | 0.45 | 0.52 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,969,000K ÷ $3,716,100K
= 0.80
The debt-to-assets ratio for Scotts Miracle-Gro Company has fluctuated over the past couple of years. The ratio indicates the proportion of the company's assets that are financed through debt. A higher ratio suggests that a larger portion of the company's assets is funded by debt, which can indicate higher financial risk.
Analyzing the trend, we can see that the debt-to-assets ratio has varied between 0.39 and 0.80. It reached its peak at 0.80 on December 31, 2023, and its lowest point at 0.39 on March 31, 2020. Generally, a higher debt-to-assets ratio may suggest increased financial leverage, while a lower ratio may indicate a stronger financial position with less reliance on debt financing.
It is important to consider the industry norms and the company's specific circumstances when assessing the implications of the debt-to-assets ratio. Investors and stakeholders typically monitor this ratio closely as part of evaluating the company's financial health and risk profile.
Peer comparison
Dec 31, 2023