Worthington Industries Inc (WOR)
Debt-to-assets ratio
| Aug 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 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 300,009 | 297,695 | 298,549 | 298,083 | 689,718 | 689,339 | 693,453 | 690,011 | 696,345 | 700,739 | 701,892 | 706,130 | 710,031 | 708,511 | 707,340 | 707,331 | 699,516 | 698,552 | 698,531 | 698,612 |
| Total assets | US$ in thousands | 1,645,270 | 1,704,690 | 3,584,140 | 3,476,690 | 3,650,920 | 3,497,670 | 3,390,660 | 3,510,140 | 3,643,020 | 3,738,160 | 3,517,630 | 3,547,760 | 3,373,240 | 3,137,870 | 3,027,380 | 3,131,050 | 2,331,520 | 2,429,080 | 2,408,960 | 2,382,630 |
| Debt-to-assets ratio | 0.18 | 0.17 | 0.08 | 0.09 | 0.19 | 0.20 | 0.20 | 0.20 | 0.19 | 0.19 | 0.20 | 0.20 | 0.21 | 0.23 | 0.23 | 0.23 | 0.30 | 0.29 | 0.29 | 0.29 |
August 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $300,009K ÷ $1,645,270K
= 0.18
The debt-to-assets ratio of Worthington Industries Inc has shown fluctuating trends over the past few quarters. As of August 31, 2024, the ratio stands at 0.18, indicating that 18% of the company's assets are financed by debt. This ratio has remained relatively stable compared to the prior period, which recorded a ratio of 0.17 as of February 29, 2024.
Looking back further, the ratio was significantly lower at 0.08 as of November 30, 2023, and 0.09 as of August 31, 2023. However, in the subsequent quarters, the ratio increased to 0.19 as of May 31, 2023, and 0.20 as of February 28, 2023.
During the previous fiscal year, the debt-to-assets ratio was consistent around 0.20 from November 2022 to August 2022, with some slight variations. The ratio saw a slight increase to 0.21 as of May 31, 2022, and further to 0.23 as of February 28, 2022. The ratio remained at this level through 2021 and part of 2020 until August 31, 2020, where it sharply increased to 0.30.
Overall, Worthington Industries Inc has maintained a relatively moderate level of debt-to-assets ratio, reflecting a stable financial position with a conservative approach to debt financing. However, the recent fluctuations in the ratio suggest some variability in the company's capital structure and debt management strategies.
Peer comparison
Aug 31, 2024