Universal Corporation (UVV)
Debt-to-equity 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-equity ratio | 0.43 | 0.44 | 0.45 | 0.45 | 0.44 | 0.45 | 0.39 | 0.39 | 0.39 | 0.39 | 0.40 | 0.40 | 0.40 | 0.41 | 0.30 | 0.30 | 0.30 | 0.28 | 0.28 | 0.28 |
March 31, 2024 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $617,364K ÷ $1,437,210K
= 0.43
The debt-to-equity ratio of Universal Corporation has been relatively stable over the past several quarters, hovering around the range of 0.28 to 0.45. This indicates that the company has been maintaining a moderate level of debt compared to its equity.
The ratio peaked at 0.45 in the most recent quarter ended March 31, 2024, and has generally remained in the 0.39 to 0.45 range over the past few quarters. This suggests that Universal Corporation has a slightly higher proportion of debt relative to equity in its capital structure.
The company's debt-to-equity ratio dipped to 0.28 in the second quarter of 2020 but has gradually increased since then. The rise in the ratio may indicate that Universal Corporation has taken on more debt or has not significantly increased its equity during this period.
Overall, Universal Corporation's debt-to-equity ratio trend suggests a balanced mix of debt and equity financing, with a tendency towards a slightly higher reliance on debt in recent quarters. This indicates that the company is managing its capital structure in a manner that allows for access to debt financing while maintaining an adequate level of equity to support its operations.
Peer comparison
Mar 31, 2024