Spire Inc (SR)

Debt-to-assets ratio

		Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020
Long-term debt	US$ in thousands	3,704,400	3,554,000	2,958,500	2,939,100	2,423,700
Total assets	US$ in thousands	10,860,700	10,313,600	10,083,700	9,356,400	8,241,200
Debt-to-assets ratio		0.34	0.34	0.29	0.31	0.29

September 30, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $3,704,400K ÷ $10,860,700K
= 0.34

The debt-to-assets ratio of Spire Inc has shown some fluctuations over the past five years. In 2020 and 2022, the ratio was at 0.29, indicating that 29% of the company's assets were financed by debt. In 2021, the ratio increased slightly to 0.31 before stabilizing back to 0.34 in 2023 and 2024.

A debt-to-assets ratio of 0.34 in 2024 suggests that 34% of Spire Inc's assets are funded by debt. This ratio indicates that the company relies moderately on debt financing to support its operations and investments, with a larger proportion of assets being financed through equity.

Overall, the stability and relatively moderate levels of the debt-to-assets ratio over the years indicate a balanced approach to capital structure management by Spire Inc. However, further analysis of the company's financial health and performance metrics would be necessary to assess the implications of this debt ratio on its overall financial position.