Spire Inc (SR)

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	3,704,400	3,422,300	3,421,400	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
Total assets	US$ in thousands	10,860,700	10,710,900	10,711,400	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
Debt-to-assets ratio		0.34	0.32	0.32	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

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 exhibited fluctuations over the past few quarters. As of September 30, 2024, the ratio stands at 0.34, indicating that 34% of the company's assets are financed by debt. This ratio has increased from the previous quarter but remains within a relatively stable range over the past few years, fluctuating between 0.29 and 0.37.

A higher debt-to-assets ratio may suggest a higher degree of financial leverage and potential risk, as a significant portion of the company's assets are funded by debt. On the other hand, a lower ratio may imply less reliance on debt financing.

It is important to consider industry benchmarks and compare the company's debt-to-assets ratio with its peers to gain further insights into Spire Inc's capital structure and financial risk profile. Additionally, monitoring the trend of this ratio over time can provide valuable information on the company's debt management strategies and overall financial health.