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.