Debt to Equity
since 2005
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Kellanova pages available for free this week:
- Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Dividend Discount Model (DDM)
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
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Calculation
Kellanova, debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Total Kellanova equity1 | |
|---|---|---|---|---|---|
| Dec 30, 2023 | = | ÷ | |||
| Dec 31, 2022 | = | ÷ | |||
| Dec 31, 2021 | = | ÷ | |||
| Jan 2, 2021 | = | ÷ | |||
| Dec 28, 2019 | = | ÷ | |||
| Dec 29, 2018 | = | ÷ | |||
| Dec 30, 2017 | = | ÷ | |||
| Dec 31, 2016 | = | ÷ | |||
| Dec 31, 2015 | = | ÷ | |||
| Dec 31, 2014 | = | ÷ | |||
| Dec 28, 2013 | = | ÷ | |||
| Dec 29, 2012 | = | ÷ | |||
| Dec 31, 2011 | = | ÷ | |||
| Dec 31, 2010 | = | ÷ | |||
| Dec 31, 2009 | = | ÷ | |||
| Dec 31, 2008 | = | ÷ | |||
| Dec 29, 2007 | = | ÷ | |||
| Dec 30, 2006 | = | ÷ | |||
| Dec 31, 2005 | = | ÷ |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2021-01-02), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The analysis of the financial data reveals several key trends in the company's capital structure over the examined period.
- Total Debt
- Total debt exhibited a generally oscillating pattern with an initial increase from 4,897 million USD at the end of 2005 to a peak of 8,893 million USD by the end of 2018. Following this peak, total debt consistently decreased to 5,873 million USD by the end of 2023, indicating a strategic reduction in leverage in recent years.
- Total Equity
- Total equity demonstrated notable fluctuations. It initially fell from 2,284 million USD in 2005 to a low of 1,448 million USD at the end of 2008, corresponding with a challenging period possibly influenced by external economic factors. Subsequently, equity generally increased, reaching a maximum of 3,720 million USD at the end of 2021, before slightly declining to 3,175 million USD in 2023. Overall, equity levels improved compared to the early years.
- Debt to Equity Ratio
- The debt to equity ratio reflected significant volatility, highlighting variations in the company's financial leverage. The ratio increased sharply from 2.14 in 2005 to a high of 4.07 by the end of 2016, signaling heavier reliance on debt financing relative to equity during this period. From 2017 onwards, the ratio decreased steadily to 1.85 in 2023, indicating a deleveraging trend and a move towards a more balanced capital structure.
Overall, the data suggest that the company experienced periods of high financial leverage, particularly between 2010 and 2017, with high debt levels relative to equity. Post-2018, the firm appears to have focused on reducing debt and strengthening equity, thereby improving its financial stability and reducing risk exposure. The recent years show a trend toward prudent capital management through a decreasing debt to equity ratio, reinforcing a more conservative financial posture.
Comparison to Competitors
Kellanova, debt to equity, long-term trends, comparison to competitors
| Kellanova | Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|---|
| Dec 30, 2023 | |||||
| Dec 31, 2022 | |||||
| Dec 31, 2021 | |||||
| Jan 2, 2021 | |||||
| Dec 28, 2019 | |||||
| Dec 29, 2018 | |||||
| Dec 30, 2017 | |||||
| Dec 31, 2016 | |||||
| Dec 31, 2015 | |||||
| Dec 31, 2014 | |||||
| Dec 28, 2013 | |||||
| Dec 29, 2012 | |||||
| Dec 31, 2011 | |||||
| Dec 31, 2010 | |||||
| Dec 31, 2009 | |||||
| Dec 31, 2008 | |||||
| Dec 29, 2007 | |||||
| Dec 30, 2006 | |||||
| Dec 31, 2005 |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2021-01-02), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Food, Beverage & Tobacco)
Kellanova, debt to equity, long-term trends, comparison to sector (food, beverage & tobacco)
| Kellanova | Food, Beverage & Tobacco | |
|---|---|---|
| Dec 30, 2023 | ||
| Dec 31, 2022 | ||
| Dec 31, 2021 | ||
| Jan 2, 2021 | ||
| Dec 28, 2019 | ||
| Dec 29, 2018 | ||
| Dec 30, 2017 | ||
| Dec 31, 2016 | ||
| Dec 31, 2015 | ||
| Dec 31, 2014 | ||
| Dec 28, 2013 | ||
| Dec 29, 2012 | ||
| Dec 31, 2011 | ||
| Dec 31, 2010 | ||
| Dec 31, 2009 | ||
| Dec 31, 2008 | ||
| Dec 29, 2007 | ||
| Dec 30, 2006 | ||
| Dec 31, 2005 |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2021-01-02), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Consumer Staples)
Kellanova, debt to equity, long-term trends, comparison to industry (consumer staples)
| Kellanova | Consumer Staples | |
|---|---|---|
| Dec 30, 2023 | ||
| Dec 31, 2022 | ||
| Dec 31, 2021 | ||
| Jan 2, 2021 | ||
| Dec 28, 2019 | ||
| Dec 29, 2018 | ||
| Dec 30, 2017 | ||
| Dec 31, 2016 | ||
| Dec 31, 2015 | ||
| Dec 31, 2014 | ||
| Dec 28, 2013 | ||
| Dec 29, 2012 | ||
| Dec 31, 2011 | ||
| Dec 31, 2010 | ||
| Dec 31, 2009 | ||
| Dec 31, 2008 | ||
| Dec 29, 2007 | ||
| Dec 30, 2006 | ||
| Dec 31, 2005 |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2021-01-02), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).