Summit Materials (FRA:7SU) LT-Debt-to-Total-Asset : 0.35 (As of Mar. 2024)

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What is Summit Materials 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. Summit Materials's long-term debt to total assests ratio for the quarter that ended in Mar. 2024 was 0.35.

Summit Materials's long-term debt to total assets ratio declined from Mar. 2023 (0.36) to Mar. 2024 (0.35). It may suggest that Summit Materials is progressively becoming less dependent on debt to grow their business.

Summit Materials LT-Debt-to-Total-Asset Historical Data

The historical data trend for Summit Materials'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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Summit Materials LT-Debt-to-Total-Asset Chart

Summit Materials Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

LT-Debt-to-Total-Asset

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0.46

0.44

0.38

0.36

0.45

Summit Materials Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
LT-Debt-to-Total-Asset	Get a 7-Day Free Trial															0.36	0.35	0.35	0.45	0.35

Summit Materials LT-Debt-to-Total-Asset Calculation

Summit Materials's Long-Term Debt to Total Asset Ratio for the fiscal year that ended in Dec. 2023 is calculated as

LT Debt to Total Assets (A: Dec. 2023 )	=	Long-Term Debt & Capital Lease Obligation (A: Dec. 2023 )	/	Total Assets (A: Dec. 2023 )
	=	2124.569	/	4722.167
	=	0.45

Summit Materials's Long-Term Debt to Total Asset Ratio for the quarter that ended in Mar. 2024 is calculated as

LT Debt to Total Assets (Q: Mar. 2024 )	=	Long-Term Debt & Capital Lease Obligation (Q: Mar. 2024 )	/	Total Assets (Q: Mar. 2024 )
	=	2623.221	/	7479.508
	=	0.35

Summit Materials (FRA:7SU) 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.

Summit Materials LT-Debt-to-Total-Asset Related Terms

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Summit Materials (FRA:7SU) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Building Materials » Summit Materials Inc (FRA:7SU) » Definitions » LT-Debt-to-Total-Asset

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SUM:USA

Address

1801 California Street, Suite 3500, Denver, CO, USA, 80202

Website

https://www.summit-materials.com

Summit Materials Inc is an aggregates supplier and cement producer in the United States. The company sells products that include aggregates, which it supplies across the United States, and in British Columbia, Canada, and cement, which it supplies to surrounding states along the Mississippi River from Minnesota to Louisiana. In addition to supplying aggregates to customers, the company uses a portion of its materials internally to produce ready-mix concrete and asphalt paving mix, which may be sold externally or used in its paving and related services businesses. The company operates in 22 U.S. states and in British Columbia, Canada and has assets in 21 U.S. states and in British Columbia, Canada through their platforms.

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