WD-40 Company (WDFC)
Debt-to-assets ratio
| Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 85,977 | 85,473 | 85,894 | 86,173 | 109,743 | 108,893 | 108,309 | 107,902 | 107,139 | 110,189 | 112,809 | 112,729 | 114,940 | 116,498 | 116,731 | 114,712 | 113,098 | 94,566 | 61,117 | 61,152 |
| Total assets | US$ in thousands | 449,039 | 443,610 | 442,021 | 430,606 | 437,966 | 438,050 | 450,337 | 441,493 | 434,295 | 429,123 | 423,146 | 421,439 | 430,203 | 427,887 | 405,987 | 386,398 | 362,637 | 385,951 | 333,331 | 317,491 |
| Debt-to-assets ratio | 0.19 | 0.19 | 0.19 | 0.20 | 0.25 | 0.25 | 0.24 | 0.24 | 0.25 | 0.26 | 0.27 | 0.27 | 0.27 | 0.27 | 0.29 | 0.30 | 0.31 | 0.25 | 0.18 | 0.19 |
August 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $85,977K ÷ $449,039K
= 0.19
The debt-to-assets ratio of WD-40 Company has been relatively stable over the past few quarters, fluctuating between 0.18 and 0.31. As of August 31, 2024, the debt-to-assets ratio stands at 0.19, indicating that for every dollar of assets, the company has $0.19 of debt.
A decreasing trend in the debt-to-assets ratio from November 2020 to May 2021 was observed, reaching its lowest point at 0.18 in May 2020. However, the ratio started to increase afterwards, reaching a peak of 0.31 in November 2020, before stabilizing around the 0.19 to 0.27 range from May 2022 to May 2024.
Overall, the consistent debt-to-assets ratio around 0.19 to 0.27 signifies that WD-40 Company has maintained a healthy balance between debt and assets, suggesting a moderate level of financial leverage. Monitoring this ratio over time can provide insights into the company's capital structure and financial risk management.
Peer comparison
Aug 31, 2024