Valvoline Inc (VVV)
Debt-to-equity 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 stockholders’ equity | US$ in thousands | 64,800 | 203,200 | 285,400 | 1,372,400 | 289,300 | 306,600 | 225,500 | 200,300 | 167,300 | 134,500 | 23,000 | -56,000 | -55,000 | -76,000 | -188,000 | -237,000 | -196,000 | -257,800 | -252,000 | -298,000 |
| Debt-to-equity ratio | 24.02 | 7.69 | 5.49 | 1.15 | 5.72 | 4.97 | 7.27 | 8.23 | 9.93 | 12.19 | 73.52 | — | — | — | — | — | — | — | — | — |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,556,800K ÷ $64,800K
= 24.02
The debt-to-equity ratio of Valvoline Inc has shown fluctuations over the past eight quarters. In Q1 2024, the ratio spiked to 24.39, indicating a significant increase in debt relative to equity. This sharp increase from the previous quarter (Q4 2023) when the ratio was 7.81 could suggest a substantial rise in debt levels or a decrease in equity during that period.
Looking further back, in Q3 2023 and Q2 2023, the debt-to-equity ratios were 5.58 and 1.16 respectively, showing a more moderate level of debt compared to equity. However, in Q1 2023 and Q4 2022, the ratios were 6.50 and 5.50, indicating higher levels of debt relative to equity during those quarters.
It is worth noting that Q2 2022 had a comparatively higher debt-to-equity ratio of 8.48, which decreased in the following quarters. Overall, the trend in the debt-to-equity ratio of Valvoline Inc suggests varying levels of leverage over the past eight quarters, with Q1 2024 standing out as a period of significantly higher debt relative to equity.
Peer comparison
Dec 31, 2023