Scotts Miracle-Gro Company (SMG)
Debt-to-assets ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 2,174,200 | 2,436,400 | 2,760,500 | 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 |
| Total assets | US$ in thousands | 2,871,900 | 3,489,300 | 3,924,200 | 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 |
| Debt-to-assets ratio | 0.76 | 0.70 | 0.70 | 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 |
September 30, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,174,200K ÷ $2,871,900K
= 0.76
The debt-to-assets ratio for Scotts Miracle-Gro Company has fluctuated over the past several quarters, indicating varying levels of leverage in the company's capital structure. The ratio ranged from 0.39 to 0.80 in the last five years, with the highest level recorded at the end of December 2023 and the lowest level in March 2021.
A higher debt-to-assets ratio, such as the peak seen in December 2023, suggests that the company has a higher proportion of debt relative to its total assets. This could indicate increased financial risk and potential challenges in servicing debt obligations. On the other hand, a lower ratio, like in March 2021, reflects a lesser reliance on debt financing and may indicate a stronger financial position with fewer financial risks.
Overall, the trend in the debt-to-assets ratio for Scotts Miracle-Gro Company exhibits some variability, and further analysis is suggested to understand the specific reasons behind these fluctuations and their implications for the company's financial health and risk profile.
Peer comparison
Sep 30, 2024