Worthington Industries Inc (WOR)
Debt-to-equity 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 stockholders’ equity | US$ in thousands | 912,096 | 1,792,810 | 1,774,620 | 1,696,010 | 1,585,430 | 1,513,390 | 1,512,600 | 1,480,750 | 1,451,370 | 1,479,800 | 1,453,340 | 1,398,190 | 1,311,790 | 1,276,900 | 1,382,780 | 820,821 | 821,495 | 835,891 | 787,973 | 831,246 |
| Debt-to-equity ratio | 0.33 | 0.17 | 0.17 | 0.41 | 0.43 | 0.46 | 0.46 | 0.47 | 0.48 | 0.47 | 0.49 | 0.51 | 0.54 | 0.55 | 0.51 | 0.85 | 0.85 | 0.84 | 0.89 | 0.72 |
February 29, 2024 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $297,695K ÷ $912,096K
= 0.33
The debt-to-equity ratio of Worthington Industries Inc has shown some fluctuation over the past few quarters. The ratio was 0.33 as of February 29, 2024, indicating that the company had $0.33 in debt for every $1 of equity. This marked an increase from the ratio of 0.17 reported in November 30, 2023, and August 31, 2023.
The sudden increase in the debt-to-equity ratio may suggest that Worthington Industries Inc took on additional debt during this period or experienced a decrease in shareholder equity. It is important to further examine the financial statements and performance of the company to understand the reasons behind this change.
Looking back over the historical data, the debt-to-equity ratio has shown some variability, reaching as high as 0.89 in May 31, 2019, and as low as 0.17 in November 30, 2023, and August 31, 2023. This variability highlights the importance of monitoring the company's capital structure and financial leverage.
Overall, while the debt-to-equity ratio of Worthington Industries Inc has fluctuated in recent quarters, it is essential to continue monitoring this ratio to assess the company's financial health and risk management strategies.
Peer comparison
Feb 29, 2024