SpartanNash Co (SPTN)
Financial leverage ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 2,355,580 | 2,306,560 | 2,206,780 | 2,277,390 | 2,277,390 |
| Total stockholders’ equity | US$ in thousands | 778,182 | 766,068 | 782,869 | 735,049 | 687,538 |
| Financial leverage ratio | 3.03 | 3.01 | 2.82 | 3.10 | 3.31 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $2,355,580K ÷ $778,182K
= 3.03
The financial leverage ratio for SpartanNash Co has exhibited some fluctuations over the past five years. The ratio increased from 2.82 in 2021 to 3.01 in 2022, before further rising to 3.03 in 2023. This upward trend indicates an increasing reliance on debt to finance the company's assets over the years.
In 2020, the financial leverage ratio was relatively high at 3.10, which suggests a higher level of debt compared to the company's equity. The highest ratio was recorded in 2019 at 3.31, indicating a significant reliance on debt financing in that year.
Overall, the trend in the financial leverage ratio for SpartanNash Co suggests that the company has been leveraging more debt to support its operations and growth. Investors and stakeholders may need to closely monitor the company's debt levels and its ability to manage and service its debt obligations effectively in the future.
Peer comparison
Dec 31, 2023