Cactus Inc (WHD)
Financial leverage ratio
| Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 1,575,890 | 1,522,560 | 1,464,150 | 1,476,400 | 1,520,270 | 1,118,900 | 1,095,200 | 1,070,120 | 1,026,190 | 982,078 | 963,930 | 944,750 | 877,865 | 815,594 | 811,488 | 822,152 | 850,095 | 834,964 | 811,137 | 793,765 |
| Total stockholders’ equity | US$ in thousands | 893,366 | 865,522 | 821,008 | 760,806 | 737,253 | 571,917 | 544,239 | 517,239 | 492,323 | 468,644 | 456,871 | 441,970 | 405,959 | 352,970 | 351,019 | 346,746 | 342,458 | 327,466 | 312,325 | 293,031 |
| Financial leverage ratio | 1.76 | 1.76 | 1.78 | 1.94 | 2.06 | 1.96 | 2.01 | 2.07 | 2.08 | 2.10 | 2.11 | 2.14 | 2.16 | 2.31 | 2.31 | 2.37 | 2.48 | 2.55 | 2.60 | 2.71 |
March 31, 2024 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $1,575,890K ÷ $893,366K
= 1.76
The financial leverage ratio of Cactus Inc has shown a fluctuating trend over the past few quarters. The ratio has ranged from 1.76 to 2.71, indicating changes in the company's capital structure and its reliance on debt financing.
From December 2019 to June 2020, the financial leverage ratio steadily increased from 2.55 to 2.71, suggesting a higher proportion of debt financing relative to equity. However, the ratio then declined to 2.08 by March 2022, implying a decrease in leverage during this period.
Subsequently, there was an upward trend in leverage from March 2022 to March 2023, with the ratio peaking at 2.06 before slightly decreasing in the following quarters. The ratio stood at 1.76 in both March and December 2023, indicating a stable level of leverage during this period.
Overall, the company's financial leverage ratio has displayed variability, potentially reflecting shifts in its debt levels and capital structure. An in-depth analysis of the company's financial position and future borrowing plans would be necessary to fully understand the implications of these fluctuations in the financial leverage ratio.
Peer comparison
Mar 31, 2024