Universal Corporation (UVV)
Debt-to-assets ratio
| 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 | Sep 30, 2019 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 617,364 | 617,225 | 617,086 | 616,948 | 616,809 | 616,750 | 518,923 | 518,798 | 518,547 | 518,547 | 518,422 | 518,297 | 518,172 | 518,047 | 368,894 | 368,829 | 368,764 | 368,698 | 368,633 | 368,568 |
| Total assets | US$ in thousands | 2,937,240 | 2,833,870 | 2,861,770 | 2,887,660 | 2,639,180 | 2,764,900 | 2,814,000 | 2,779,380 | 2,586,340 | 2,593,530 | 2,425,800 | 2,396,090 | 2,341,920 | 2,388,640 | 2,242,290 | 2,106,840 | 2,120,920 | 2,150,720 | 2,218,230 | 2,177,880 |
| Debt-to-assets ratio | 0.21 | 0.22 | 0.22 | 0.21 | 0.23 | 0.22 | 0.18 | 0.19 | 0.20 | 0.20 | 0.21 | 0.22 | 0.22 | 0.22 | 0.16 | 0.18 | 0.17 | 0.17 | 0.17 | 0.17 |
March 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $617,364K ÷ $2,937,240K
= 0.21
The debt-to-assets ratio for Universal Corporation has fluctuated over the past few quarters, ranging from 0.16 to 0.23. This ratio indicates the proportion of the company's total assets that are financed by debt. A lower ratio suggests that the company relies less on debt to finance its operations, while a higher ratio indicates a higher level of leverage.
In general, Universal Corporation's debt-to-assets ratio has been relatively stable around the range of 0.18 to 0.23, with some minor fluctuations. The ratio was at its lowest in the third quarter of 2020 at 0.16 and reached its peak in the first quarter of 2023 at 0.23. This indicates that the company's reliance on debt to finance its assets has varied over the analyzed periods.
It's important to continue monitoring changes in the debt-to-assets ratio to assess Universal Corporation's financial leverage and risk. A consistent increase in the ratio may signal a higher level of financial risk due to increased debt financing, while a decreasing trend may indicate a more conservative financial approach.
Peer comparison
Mar 31, 2024