Southwest Gas Holdings Inc (SWX)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 4,609,840 | 4,403,300 | 4,115,680 | 2,732,200 | 2,300,480 |
| Total assets | US$ in thousands | 11,869,900 | 13,196,600 | 12,765,300 | 8,735,850 | 8,170,050 |
| Debt-to-assets ratio | 0.39 | 0.33 | 0.32 | 0.31 | 0.28 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $4,609,840K ÷ $11,869,900K
= 0.39
Southwest Gas Holdings Inc's debt-to-assets ratio has shown fluctuations over the past five years. The ratio has been relatively stable, ranging from 0.33 to 0.50. The decreasing trend from 0.50 in 2021 to 0.44 in 2023 suggests a better ability to meet its obligations with its assets. However, it's important to note that the ratio increased in 2022 before declining again in 2023. The company's debt level in relation to its total assets indicates a moderate level of leverage and financial risk. Monitoring this ratio over time can provide insights into the company's ability to manage its debt obligations and maintain a healthy balance sheet.
Peer comparison
Dec 31, 2023