Unifirst Corporation (UNF)
Financial leverage ratio
| Aug 31, 2024 | May 25, 2024 | Feb 24, 2024 | Nov 25, 2023 | Aug 26, 2023 | Feb 25, 2023 | Nov 26, 2022 | Aug 27, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 2,696,410 | 2,651,420 | 2,620,950 | 2,602,050 | 2,569,980 | 2,454,320 | 2,450,750 | 2,427,970 | 2,410,820 | 2,412,600 | 2,397,510 | 2,381,060 | 2,335,920 | 2,275,760 | 2,234,160 | 2,199,030 | 2,153,270 | 2,152,860 | 2,123,580 | 2,047,320 |
| Total stockholders’ equity | US$ in thousands | 2,108,510 | 2,075,610 | 2,049,680 | 2,040,170 | 2,003,960 | 1,955,090 | 1,941,970 | 1,915,870 | 1,904,010 | 1,898,980 | 1,894,900 | 1,872,950 | 1,845,200 | 1,801,110 | 1,773,350 | 1,741,130 | 1,708,100 | 1,701,440 | 1,676,010 | 1,641,230 |
| Financial leverage ratio | 1.28 | 1.28 | 1.28 | 1.28 | 1.28 | 1.26 | 1.26 | 1.27 | 1.27 | 1.27 | 1.27 | 1.27 | 1.27 | 1.26 | 1.26 | 1.26 | 1.26 | 1.27 | 1.27 | 1.25 |
August 31, 2024 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $2,696,410K ÷ $2,108,510K
= 1.28
The financial leverage ratio of Unifirst Corporation has remained relatively stable over the analyzed period, fluctuating within a narrow range around 1.26 to 1.28. This consistency indicates that the company has maintained a moderate level of financial leverage, with a slight increase observed in some periods. A financial leverage ratio of more than 1 suggests that the company is financed more by debt than equity, which can amplify returns but also increase financial risk. Unifirst's consistent ratio within this range indicates a balanced approach to debt and equity financing, which may be favorable in terms of risk management and financial stability.
Peer comparison
Aug 31, 2024