Universal Corporation (UVV)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 1,437,210 | 1,417,080 | 1,384,190 | 1,380,720 | 1,397,090 | 1,360,790 | 1,324,850 | 1,325,760 | 1,340,540 | 1,316,000 | 1,297,330 | 1,303,820 | 1,307,300 | 1,270,520 | 1,239,500 | 1,236,240 | 1,246,660 | 1,309,800 | 1,298,660 | 1,310,340 |
| Debt-to-capital ratio | 0.30 | 0.30 | 0.31 | 0.31 | 0.31 | 0.31 | 0.28 | 0.28 | 0.28 | 0.28 | 0.29 | 0.28 | 0.28 | 0.29 | 0.23 | 0.23 | 0.23 | 0.22 | 0.22 | 0.22 |
March 31, 2024 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $617,364K ÷ ($617,364K + $1,437,210K)
= 0.30
The debt-to-capital ratio of Universal Corporation has shown relative stability over the past several quarters, hovering around the range of 0.28 to 0.31. This indicates that, on average, debt has represented about 28% to 31% of the company's total capital structure during this period.
A trend worth noting is the slight increase in the debt-to-capital ratio from 0.28 in the third quarter of 2022 to 0.31 in the second and third quarters of 2023. This suggests that the company may have taken on slightly more debt relative to its capital base during these quarters.
Overall, the debt-to-capital ratio of Universal Corporation appears to be within a reasonable range, indicating a moderate level of leverage in its capital structure. However, it is important for investors and stakeholders to continue monitoring this ratio to ensure that the company's debt levels remain sustainable and in line with its overall financial health.
Peer comparison
Mar 31, 2024