Vestis Corporation (VSTS)
Debt-to-assets ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,147,730 | 1,394,530 | 1,410,850 | 1,454,800 | — | — | — | — | — | — |
| Total assets | US$ in thousands | 2,932,390 | 3,145,630 | 3,121,660 | 3,161,750 | 3,157,120 | 3,169,800 | 3,176,540 | — | 3,133,010 | — |
| Debt-to-assets ratio | 0.39 | 0.44 | 0.45 | 0.46 | 0.00 | 0.00 | 0.00 | — | 0.00 | — |
September 30, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,147,730K ÷ $2,932,390K
= 0.39
The debt-to-assets ratio for Vestis Corporation has been fluctuating over the past several quarters. It decreased from 0.46 in December 2023 to 0.00 in September 2023 and remained at 0.00 in subsequent quarters until March 2024. This sudden drop in the ratio indicates that the company significantly reduced its debt relative to its total assets during that period.
However, starting from March 2024, the debt-to-assets ratio began to increase again, reaching 0.45 in March 2024 and further increasing to 0.44 in June 2024, before reaching 0.39 in September 2024. This uptrend suggests that Vestis Corporation has been taking on more debt in relation to its total assets in recent quarters.
Overall, the fluctuating trend in the debt-to-assets ratio indicates changes in the company's capital structure and its ability to manage and finance its operations using debt. Investors and creditors may need to closely monitor this ratio to assess Vestis Corporation's financial leverage and risk.
Peer comparison
Sep 30, 2024