United Natural Foods Inc (UNFI)
Debt-to-assets ratio
| Jul 29, 2023 | Jul 30, 2022 | Jul 31, 2021 | Aug 1, 2020 | Aug 3, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,956,000 | 2,109,000 | 2,175,000 | 2,578,980 | 3,002,550 |
| Total assets | US$ in thousands | 7,394,000 | 7,628,000 | 7,525,000 | 7,587,000 | 7,174,340 |
| Debt-to-assets ratio | 0.26 | 0.28 | 0.29 | 0.34 | 0.42 |
July 29, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,956,000K ÷ $7,394,000K
= 0.26
The debt-to-assets ratio for United Natural Foods Inc. has shown a decreasing trend over the past five years, declining from 0.42 in 2019 to 0.27 in 2023. This indicates that the company has been effectively reducing its reliance on debt to finance its assets. A lower debt-to-assets ratio suggests a stronger financial position and lower financial risk, as it reflects a higher proportion of assets financed by equity rather than debt. This downward trend may indicate improved financial stability and a more conservative approach to capital structure management by the company. Furthermore, it may reflect a more efficient management of assets and liabilities, potentially increasing the company's ability to weather economic downturns or invest in future growth opportunities. Overall, the decreasing trend in the debt-to-assets ratio for United Natural Foods Inc. indicates a positive development in its financial structure and risk management.
Peer comparison
Jul 29, 2023