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.
Peer comparison
Dec 31, 2023