Vulcan Materials Company (VMC)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	3,877,300	3,875,200	3,874,800	2,772,200	2,784,320
Total assets	US$ in thousands	14,545,700	14,234,600	13,682,600	11,686,900	10,648,800
Debt-to-assets ratio		0.27	0.27	0.28	0.24	0.26

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $3,877,300K ÷ $14,545,700K
= 0.27

The debt-to-assets ratio of Vulcan Materials Co has remained relatively stable over the past five years, ranging between 0.26 and 0.28. This indicates that the company finances approximately 26% to 28% of its assets through debt, while the remaining percentage is covered by equity. A lower debt-to-assets ratio suggests that the company has a lower financial risk and is less reliant on debt to fund its operations and investments. Overall, the consistent ratio over the years suggests that Vulcan Materials Co has maintained a prudent approach to managing its debt levels in relation to its asset base.