Vulcan Materials Company (VMC)
Debt-to-assets ratio
| 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 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 3,877,300 | 3,874,300 | 3,873,200 | 3,876,900 | 3,875,200 | 3,874,200 | 3,873,700 | 3,874,500 | 3,874,800 | 3,874,100 | 2,769,900 | 2,772,900 | 2,772,200 | 2,777,070 | 2,785,650 | 2,785,570 | 2,784,320 | 2,783,070 | 2,781,830 | 2,780,590 |
| Total assets | US$ in thousands | 14,545,700 | 14,620,500 | 14,333,600 | 14,076,900 | 14,234,600 | 14,615,800 | 14,181,500 | 13,860,800 | 13,682,600 | 13,688,000 | 11,571,000 | 11,332,800 | 11,686,900 | 11,590,500 | 11,398,700 | 10,629,400 | 10,648,800 | 10,539,700 | 10,480,800 | 10,296,900 |
| Debt-to-assets ratio | 0.27 | 0.26 | 0.27 | 0.28 | 0.27 | 0.27 | 0.27 | 0.28 | 0.28 | 0.28 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.26 | 0.26 | 0.26 | 0.27 | 0.27 |
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 for Vulcan Materials Co has been relatively stable over the past eight quarters, ranging from 0.27 to 0.29. This indicates that, on average, approximately 27% to 29% of the company's total assets are financed through debt. The consistency in the ratio suggests that the company has maintained a balanced mix of debt and equity in its capital structure.
A debt-to-assets ratio of less than 1.0 typically indicates that the company relies more on equity financing rather than debt to fund its operations and investments. In the case of Vulcan Materials Co, the ratio has consistently remained below 0.3, indicating a conservative approach to debt financing.
Overall, a stable and relatively low debt-to-assets ratio suggests that Vulcan Materials Co has a strong financial position with a conservative level of debt relative to its total assets. This may indicate lower financial risk and higher financial stability for the company.
Peer comparison
Dec 31, 2023