Worthington Industries Inc (WOR)
Debt-to-assets ratio
| Nov 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 295,721 | 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 |
| Total assets | US$ in thousands | 1,657,020 | 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 |
| Debt-to-assets ratio | 0.18 | 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 |
November 30, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $295,721K ÷ $1,657,020K
= 0.18
The debt-to-assets ratio of Worthington Industries Inc has shown a downward trend over the period from November 30, 2019, to November 30, 2024. The ratio decreased from 0.29 on November 30, 2019, and February 29, 2020, to 0.08 on November 30, 2023, marking a significant decline.
From November 30, 2023, to February 29, 2024, there was an increase in the ratio to 0.17, followed by a slight increase to 0.18 by November 30, 2024. The ratio of 0.18 indicates that Worthington Industries Inc had $0.18 of debt for every dollar of assets by the end of November 30, 2024.
Overall, the decreasing trend in the debt-to-assets ratio suggests that Worthington Industries Inc has been effectively managing its debt levels in relation to its asset base in the recent years. The company's ability to reduce its reliance on debt financing may reflect positively on its financial health and risk management.
Peer comparison
Nov 30, 2024