Covetrus (Covetrus) Debt-to-Equity : 0.70 (As of Jun. 2022)

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What is Covetrus Debt-to-Equity?

Covetrus's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Jun. 2022 was $66 Mil. Covetrus's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Jun. 2022 was $983 Mil. Covetrus's Total Stockholders Equity for the quarter that ended in Jun. 2022 was $1,505 Mil. Covetrus's debt to equity for the quarter that ended in Jun. 2022 was 0.70.

A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.

The historical rank and industry rank for Covetrus's Debt-to-Equity or its related term are showing as below:

CVET's Debt-to-Equity is not ranked ^*
in the Medical Distribution industry.
Industry Median: 0.29
* Ranked among companies with meaningful Debt-to-Equity only.

Covetrus Debt-to-Equity Historical Data

The historical data trend for Covetrus's Debt-to-Equity 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.

* Premium members only.

Covetrus Debt-to-Equity Chart

Covetrus Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Debt-to-Equity

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0.02

0.95

0.70

0.69

Covetrus Quarterly Data
	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22
Debt-to-Equity	Get a 7-Day Free Trial															0.71	0.71	0.69	0.69	0.70

Competitive Comparison of Covetrus's Debt-to-Equity

For the Medical Distribution subindustry, Covetrus's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Covetrus's Debt-to-Equity Distribution in the Medical Distribution Industry

For the Medical Distribution industry and Healthcare sector, Covetrus's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where Covetrus's Debt-to-Equity falls into.

Covetrus Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Covetrus's Debt to Equity Ratio for the fiscal year that ended in Dec. 2021 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(32	+	1014)	/	1511
	=	0.69

Covetrus's Debt to Equity Ratio for the quarter that ended in Jun. 2022 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(66	+	983)	/	1505
	=	0.70

Covetrus (NAS:CVET) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.

Be Aware

Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.

Covetrus Debt-to-Equity Related Terms

Thank you for viewing the detailed overview of Covetrus's Debt-to-Equity provided by GuruFocus.com. Please click on the following links to see related term pages.

Covetrus (Covetrus) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Distribution » Covetrus Inc (NAS:CVET) » Definitions » Debt-to-Equity

Comparable Companies

Traded in Other Exchanges

N/A

Address

7 Custom House Street, Portland, ME, USA, 04101

Website

https://www.covetrus.com

Covetrus Inc is an animal-health technology and services company dedicated to supporting the companion, equine, and large-animal veterinary markets. Its segments are North America, Europe and the Asia Pacific (APAC) and Emerging Markets. The company's services include supply chain services, software solutions, and prescription management.

Executives

Benjamin Wolin	director	C/O EVERYDAY HEALTH, INC., 345 HUDSON STREET, 16TH FLOOR, NEW YORK NY 10014
Edward Mcnamara	director	C/O COVETRUS, INC., 7 CUSTOM HOUSE STREET, PORTLAND ME 04101
Rebecca Ann Kidd	officer: Head of Global Operations	7 CUSTOM HOUSE STREET, PORTLAND ME 04101
Matthew Malenfant	officer: Chief Commercial Officer	7 CUSTOM HOUSE STREET, PORTLAND ME 04101
Andrew B. Coxhead	officer: See Remarks	C/O RR DONNELLEY, 111 SOUTH WACKER DRIVE, CHICAGO IL 60606
Dustin Finer	officer: Chief People Officer	7 CUSTOM HOUSE STREET, PORTLAND ME 04101
Paul R. Fonteyne	director	C/O RESTORBIO, INC., 501 BOYLSTON STREET SUITE 6102, BOSTON MA 02116
Laura J Phillips	officer: See Remarks	7 CUSTOM HOUSE STREET, PORTLAND ME 04101
Michael Ellis	officer: See Remarks	C/O HS SPINCO, INC., 135 DURYEA ROAD, MELVILLE NY 11747
Timothy Ludlow	officer: See Remarks	C/O COVETRUS, INC., 7 CUSTOM HOUSE STREET, PORTLAND ME 04101
Georgina Wraight	officer: See Remarks	C/O COVETRUS, INC., 7 CUSTOM HOUSE STREET, PORTLAND ME 04101
David Stuart Hinton	officer: See Remarks	C/O HS SPINCO, INC., 135 DURYEA ROAD, MELVILLE NY 11747
Providenti Anthony C. Jr.	officer: See Remarks	3760 ROCKY MOUNTAIN AVENUE, LOVELAND CO 80538
Jamey S Seely	officer: General Counsel and Secretary	C/O GATES INDUSTRIAL CORPORATION PLC, 1144 FIFTEENTH STREET, SUITE 1400, DENVER CO 80202
Sandra E Peterson	director	100 PARSONS POND DRIVE, FRANKLIN LAKES NJ 07417