{"id":3696,"date":"2024-11-07T13:09:03","date_gmt":"2024-11-07T19:09:03","guid":{"rendered":"https:\/\/agrilife.org\/agecon\/?p=3696"},"modified":"2024-11-07T13:09:03","modified_gmt":"2024-11-07T19:09:03","slug":"use-financial-ratios-to-manage-debt","status":"publish","type":"post","link":"https:\/\/agrilife.org\/agecon\/use-financial-ratios-to-manage-debt\/","title":{"rendered":"Use Financial Ratios to Manage Debt"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-3697\" src=\"https:\/\/agrilife.org\/agecon\/files\/2024\/11\/Title-Pic-e1731006429856.jpg\" alt=\"Picture of piggy bank holding an umbrella\" width=\"350\" height=\"282\" \/>Can you borrow to finance new purchases when you need to?\u00a0 Or will borrowing more put your business at risk of bankruptcy?\u00a0 Your ability to answer these questions accurately is an important part of managing your business for long-term success.\u00a0 In today\u2019s blog we\u2019ll look at some information taken from a farm\u2019s business records that can help you make financially responsible borrowing decisions.<\/p>\n<p><!--more--><\/p>\n<h3><\/h3>\n<h3><\/h3>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h3>The Information You Will Need<\/h3>\n<p>Today we\u2019re talking about solvency, which I\u2019ll define shortly.\u00a0 All the information you need to evaluate solvency is taken from your business\u2019s balance sheet.<\/p>\n<p>Your balance sheet is a financial statement that provides you with the following information:<\/p>\n<ul>\n<li>The dollar value of your business\u2019s <strong>assets<\/strong>, or <em>what the business owns<\/em><\/li>\n<li>The dollar value of your business\u2019s <strong>liabilities<\/strong>, or <em>what the business owes<\/em><\/li>\n<li>The dollar value of your business\u2019s <strong>equity<\/strong>, or <em>what\u2019s left over<\/em> for you after all the business\u2019s debts are paid<\/li>\n<\/ul>\n<p>The balance sheet operates from the fact that <strong>Assets<\/strong> = <strong>Liabilities<\/strong> + <strong>Equity<\/strong>.\u00a0 As a business\u2019s liabilities increase relative to its assets, business equity must decrease.\u00a0 As liabilities decrease relative to assets, equity increases. <strong>\u00a0<\/strong><\/p>\n<h3>Understanding Solvency<\/h3>\n<p>Solvency is your ability to pay all your debts if you sold your business today.\u00a0 In other words, on your balance sheet, what is the value of your assets relative to the value of your debts (liabilities)?<\/p>\n<p>Why is solvency important to debt management?\u00a0 In general, a more solvent business faces a reduced risk of bankruptcy when it takes on extra debt.\u00a0 This means you face less financial risk when you borrow to fund new investments to maintain or grow your business.\u00a0 You also face less risk when you are forced to borrow to finance unplanned purchases.<\/p>\n<h3>Solvency Ratios<\/h3>\n<p>There are three ratios you can calculate to evaluate your business\u2019s solvency, but we\u2019ll only focus on two here.\u00a0 The first of these is the <strong>Debt-to-Asset<\/strong> ratio which compares the value of the liabilities listed on your balance sheet to the value of your assets:<\/p>\n<p><em>Debt-to-Asset Ratio = Value of Total Liabilities \u00f7 Value of Total Assets<\/em><\/p>\n<p>The second important ratio is the <strong>Debt-to-Equity<\/strong> ratio which compares the value of the liabilities listed on your balance sheet to the value of your business\u2019 equity:<\/p>\n<p><em>Debt-to-Equity Ratio = Value of Total Liabilities \u00f7 Value of Total Equity<\/em><\/p>\n<p>As an example, consider a business with $10 million in assets and that owes $6 million in debts.\u00a0 Table 1 illustrates the calculations and values for this business\u2019 Debt-to-Asset and Debt-to-Equity ratios.<\/p>\n<div id=\"attachment_3700\" style=\"width: 1284px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-3700\" class=\"size-full wp-image-3700\" src=\"https:\/\/agrilife.org\/agecon\/files\/2024\/11\/Table-1.png\" alt=\"Table showing numbers from the example in the post\" width=\"1274\" height=\"358\" srcset=\"https:\/\/agrilife.org\/agecon\/files\/2024\/11\/Table-1.png 1274w, https:\/\/agrilife.org\/agecon\/files\/2024\/11\/Table-1-1024x288.png 1024w, https:\/\/agrilife.org\/agecon\/files\/2024\/11\/Table-1-768x216.png 768w\" sizes=\"auto, (max-width: 1274px) 100vw, 1274px\" \/><p id=\"caption-attachment-3700\" class=\"wp-caption-text\">Table 1. Solvency Ratio Examples<\/p><\/div>\n<h3>Using the Ratios to Evaluate Your Business\u2019 Solvency<\/h3>\n<p>In general, a smaller Debt-to-Asset ratio indicates a stronger solvency position.\u00a0 A larger Debt-to-Asset ratio indicates lesser ability to borrow new funds if they are needed.\u00a0 A Debt-to-Asset ratio greater than 1.00 means the business is bankrupt.\u00a0 Ideally, a farm business\u2019 Debt-to-Asset ratio is less than or equal to 0.30.\u00a0 A value greater than 0.60 indicates weak solvency.<\/p>\n<p>You also want to aim for a smaller Debt-to-Equity ratio. \u00a0As this ratio decreases, you own more of your business\u2019s assets outright and your debtors have a claim to less of those assets.\u00a0 The Debt-to-Equity ratio also give potential lenders a sense of how well you manage debt.\u00a0 A smaller ratio tends to indicate that you have consistently used borrowed funds to generate a good return on investment.\u00a0 That is, one large enough to pay back your lenders and still have funds left over to reinvest in the business.\u00a0 Try to aim for a Debt-to-equity value less than 0.43, and no higher than 1.50.<\/p>\n<h3>Using Solvency Ratios to Manage Debt<\/h3>\n<p>As you consider when and how much to borrow to finance your business, consider the impact that new borrowing will have on your solvency.\u00a0 For example, if taking out a real estate loan to purchase new land increases your Debt-to-Asset ratio from 0.5 to 0.75, that loan may be too risky.\u00a0 You may need to find a different way to finance that purchase.<\/p>\n<p>It\u2019s also a good idea to communicate with your banker so you know what value for these ratios they look for as they evaluate loans.\u00a0 Then, you can set financial goals related to solvency that will make you a more attractive borrower.<\/p>\n<h3>How To Improve Solvency<\/h3>\n<p>To improve solvency, a business should take steps to do three things:<\/p>\n<ul>\n<li>Reduce debts<\/li>\n<li>Increase profits<\/li>\n<li>Improve cash flow<\/li>\n<\/ul>\n<p>Of course, finding ways to achieve any one of these three goals can be difficult.\u00a0 That is why Texas A&amp;M AgriLife Extension offers the FARM Assistance program.\u00a0 This program provides producers with access to risk management specialists with the expertise necessary to evaluate a farm\u2019s financial health.\u00a0 Based on their analysis, the specialist you work with will help you develop strategies to improve your business\u2019s long-term financial position.\u00a0 For more information about the program and to sign up for assistance, visit the <a href=\"https:\/\/farmassistance.tamu.edu\/\">FARM Assistance website<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Can you borrow to finance new purchases when you need to?\u00a0 Or will borrowing more put your business at risk of bankruptcy?\u00a0 Your ability to answer these questions accurately is&#8230; <span class=\"read-more\"><a href=\"https:\/\/agrilife.org\/agecon\/use-financial-ratios-to-manage-debt\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":2184,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[31,27,1],"tags":[],"class_list":["post-3696","post","type-post","status-publish","format-standard","category-business-management","category-risk-management","category-uncategorized","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Use Financial Ratios to Manage Debt - Ag Economics on the Plains<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/agrilife.org\/agecon\/use-financial-ratios-to-manage-debt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Use Financial Ratios to Manage Debt - Ag Economics on the Plains\" \/>\n<meta property=\"og:description\" content=\"Can you borrow to finance new purchases when you need to?\u00a0 Or will borrowing more put your business at risk of bankruptcy?\u00a0 Your ability to answer these questions accurately is... 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