Valvoline Inc (VVV)
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 | 1,556,800 | 1,562,300 | 1,567,800 | 1,573,400 | 1,656,100 | 1,525,100 | 1,639,000 | 1,648,000 | 1,662,000 | 1,639,700 | 1,691,000 | 1,719,000 | 1,887,000 | 1,962,000 | 1,953,000 | 2,003,000 | 1,320,000 | 1,327,000 | 1,334,000 | 1,318,000 |
| Total assets | US$ in thousands | 2,709,300 | 2,889,900 | 2,985,500 | 4,280,400 | 3,551,500 | 3,416,800 | 3,348,000 | 3,248,000 | 3,183,000 | 3,191,000 | 3,049,000 | 2,921,000 | 3,156,000 | 3,051,000 | 2,963,000 | 2,917,000 | 2,297,000 | 2,064,000 | 2,000,000 | 1,914,000 |
| Debt-to-assets ratio | 0.57 | 0.54 | 0.53 | 0.37 | 0.47 | 0.45 | 0.49 | 0.51 | 0.52 | 0.51 | 0.55 | 0.59 | 0.60 | 0.64 | 0.66 | 0.69 | 0.57 | 0.64 | 0.67 | 0.69 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,556,800K ÷ $2,709,300K
= 0.57
The debt-to-assets ratio of Valvoline Inc has fluctuated over the past eight quarters. In Q1 2024, the ratio stood at 0.58, indicating that 58% of the company's assets were financed through debt. This marked an increase from the previous quarter where the ratio was 0.55. Prior to that, the ratio had been trending downwards from Q3 2023 to Q2 2023, reaching a low of 0.37 in Q2 2023.
The Q2 2023 ratio of 0.37 signified that only 37% of Valvoline Inc's assets were funded by debt, reflecting a strong financial position with a significant proportion of assets owned outright. Subsequently, the ratio increased in Q3 2023 and remained relatively stable in Q4 2023 at 0.53 and 0.55, respectively.
Looking back further, in Q1 2023, the ratio was 0.53, which was consistent with the Q4 2022 ratio of 0.49. The ratio increased slightly in Q3 2022 to 0.51 before rising to 0.52 in Q2 2022.
Overall, the trend in the debt-to-assets ratio of Valvoline Inc indicates some variability over time, with a peak at 0.58 in Q1 2024 and a trough at 0.37 in Q2 2023. The company appears to have a moderate level of debt compared to its total assets, with fluctuations observed in recent quarters.
Peer comparison
Dec 31, 2023