Worthington Industries Inc (WOR)
Debt-to-assets ratio
| 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 | May 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 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 | 598,356 |
| Total assets | US$ in thousands | 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 | 2,510,800 |
| Debt-to-assets ratio | 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 | 0.24 |
February 29, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $297,695K ÷ $1,704,690K
= 0.17
The debt-to-assets ratio for Worthington Industries Inc has shown some variability over the past few quarters. As of February 29, 2024, the ratio stands at 0.17, indicating that the company has $0.17 in debt for every $1 of assets.
Looking at the trend over the past several quarters, the ratio has fluctuated between 0.08 and 0.30, with some quarters showing a slightly higher leverage (more debt relative to assets) compared to others.
The company's debt-to-assets ratio of 0.17 as of February 29, 2024, suggests that Worthington Industries Inc has a relatively conservative capital structure, with a lower reliance on debt financing compared to some previous periods. This may indicate a prudent approach to managing financial risk and maintaining a healthy balance sheet structure.
It would be beneficial for stakeholders to continue monitoring the company's debt levels and overall financial health to ensure sustainable growth and stability in the long term.
Peer comparison
Feb 29, 2024