Hey there,
So a leverage ratio is effectively a measure of debt and its definition will likely differ depending on the company/industry. In any case, it is a way to measure their debt as compared to either profit/ebitda/assets/equite, etc. In the case of Alimentation Couche-Tard, they define a leverage ratio as being net debt to adjusted EBITDA - which is a pretty standard leverage ratio.
After its most recent acquisition, their leverage ratio is expected to rise to about 1.81x - which is still pretty good. As mentioned in the article, ATD views a leverage ratio of 2.25x as standard. That said, with rates rising we like to see that standard perhaps lowered and I'd look for something below 2.0x in ATD's case. It is now getting close to that and is something to monitor but for now, they are in good shape (even after the acquisition) and generate sufficient cash flows to support the debt.
ATD reports on their leverage ration in there quarterly report every quarter, so its easy to stay on top of an monitor. The may not necessarily reference it in the press release, but they 100% include it in the actual report which can be found on their website.
Does that clarify/help?
Mat