Spire Inc (SR)

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	3,247,800	3,554,000	3,553,300	3,702,500	3,156,300	2,958,500	3,207,900	3,207,300	3,206,800	2,939,100	2,939,000	2,692,500	2,517,600	2,423,700	2,478,300	2,484,800	2,484,400	2,082,600	2,042,300	2,041,900
Total assets	US$ in thousands	10,631,700	10,313,600	10,037,500	10,049,000	10,327,700	10,083,700	9,783,900	9,401,300	9,650,500	9,356,400	8,893,300	8,936,800	8,515,600	8,241,200	7,822,600	8,018,000	7,961,000	7,619,200	7,332,000	7,273,600
Debt-to-assets ratio		0.31	0.34	0.35	0.37	0.31	0.29	0.33	0.34	0.33	0.31	0.33	0.30	0.30	0.29	0.32	0.31	0.31	0.27	0.28	0.28

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $3,247,800K ÷ $10,631,700K
= 0.31

The debt-to-assets ratio of Spire Inc. has been relatively consistent over the past several quarters, hovering around 0.45 for the most recent four quarters. This indicates that, on average, approximately 45% of the company's assets are financed through debt.

The trend of the debt-to-assets ratio remaining stable suggests that Spire Inc. has maintained a balanced capital structure, with a moderate reliance on debt financing. It is worth noting the slight increase in the ratio from 0.42 in Q4 2022 to 0.45 in subsequent quarters, potentially indicating a slight increase in debt relative to assets during that period.

Overall, the consistency in the debt-to-assets ratio may reflect the company's strategic approach towards managing its debt levels and optimizing its capital structure for financial stability and growth. Further analysis of other financial metrics and industry benchmarks would provide additional insights into Spire Inc.'s financial health and performance.