Vulcan Materials Company (VMC)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 7,483,400 | 7,440,600 | 7,202,600 | 6,986,900 | 6,928,600 | 6,855,700 | 6,721,100 | 6,575,300 | 6,545,000 | 6,426,100 | 6,293,100 | 6,136,200 | 6,027,300 | 5,928,350 | 5,764,150 | 5,590,330 | 5,621,860 | 5,542,240 | 5,371,450 | 5,217,210 |
| Debt-to-capital ratio | 0.34 | 0.34 | 0.35 | 0.36 | 0.36 | 0.36 | 0.37 | 0.37 | 0.37 | 0.38 | 0.31 | 0.31 | 0.32 | 0.32 | 0.33 | 0.33 | 0.33 | 0.33 | 0.34 | 0.35 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $3,877,300K ÷ ($3,877,300K + $7,483,400K)
= 0.34
The debt-to-capital ratio of Vulcan Materials Co has exhibited relatively stable levels over the past eight quarters, ranging between 0.34 and 0.38. This ratio represents the proportion of the company's total debt to its total capital, which includes both debt and equity.
The consistent values suggest that Vulcan Materials Co has maintained a relatively balanced capital structure, with a moderate reliance on debt to finance its operations and investments. A lower debt-to-capital ratio indicates a lower level of financial risk, as it implies a smaller proportion of debt in relation to the company's total capital.
Overall, the company's debt-to-capital ratio appears to be within a manageable range, indicating prudent financial management in maintaining an appropriate level of debt relative to its total capital. This stability in the ratio demonstrates a degree of financial discipline and strategic decision-making in managing the company's capital structure.
Peer comparison
Dec 31, 2023