Hormel Foods (BSP:H1RL34) LT-Debt-to-Total-Asset : 0.17 (As of Jan. 2024)

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What is Hormel Foods LT-Debt-to-Total-Asset?

LT Debt to Total Assets is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. It is calculated as a company's Long-Term Debt & Capital Lease Obligationdivide by its Total Assets. Hormel Foods's long-term debt to total assests ratio for the quarter that ended in Jan. 2024 was 0.17.

Hormel Foods's long-term debt to total assets ratio declined from Jan. 2023 (0.25) to Jan. 2024 (0.17). It may suggest that Hormel Foods is progressively becoming less dependent on debt to grow their business.

Hormel Foods LT-Debt-to-Total-Asset Historical Data

The historical data trend for Hormel Foods's LT-Debt-to-Total-Asset can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Hormel Foods LT-Debt-to-Total-Asset Chart

Hormel Foods Annual Data

Trend

Oct14

Oct15

Oct16

Oct17

Oct18

Oct19

Oct20

Oct21

Oct22

Oct23

LT-Debt-to-Total-Asset

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0.03

0.11

0.26

0.25

0.18

Hormel Foods Quarterly Data
	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24
LT-Debt-to-Total-Asset	Get a 7-Day Free Trial															0.25	0.25	0.18	0.18	0.17

Hormel Foods LT-Debt-to-Total-Asset Calculation

Hormel Foods's Long-Term Debt to Total Asset Ratio for the fiscal year that ended in Oct. 2023 is calculated as

LT Debt to Total Assets (A: Oct. 2023 )	=	Long-Term Debt & Capital Lease Obligation (A: Oct. 2023 )	/	Total Assets (A: Oct. 2023 )
	=	11925.447	/	67995.646
	=	0.18

Hormel Foods's Long-Term Debt to Total Asset Ratio for the quarter that ended in Jan. 2024 is calculated as

LT Debt to Total Assets (Q: Jan. 2024 )	=	Long-Term Debt & Capital Lease Obligation (Q: Jan. 2024 )	/	Total Assets (Q: Jan. 2024 )
	=	11593.063	/	66459.553
	=	0.17

Hormel Foods (BSP:H1RL34) LT-Debt-to-Total-Asset Explanation

LT Debt to Total Asset is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. A year-over-year decrease in this metric would suggest the company is progressively becoming less dependent on debt to grow their business.

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Hormel Foods (BSP:H1RL34) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Hormel Foods Corp (BSP:H1RL34) » Definitions » LT-Debt-to-Total-Asset

Comparable Companies

Traded in Other Exchanges

HRL:USA HRL:Mexico HO7:Germany HRL:Austria

Address

1 Hormel Place, Austin, MN, USA, 55912-3680

Website

https://www.hormelfoods.com

Historically meat-focused, Hormel Foods broadened its lineup to include other protein offerings and become a branded food company. The firm sells its wares through multiple channels, including U.S. retail (64% of fiscal 2023 sales), U.S. food service (30%), and international (6%). By product, 53% of fiscal 2022 sales were from perishable food, 27% from shelf-stable, 17% from poultry, and 3% from other products. Major brands include Hormel, Spam, Jennie-O, Columbus, Applegate, Planters, and Skippy. Many of these hold the number one or two market share in their respective categories.

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