Alcoa Corp (AA)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,732,000 | 1,806,000 | 1,726,000 | 2,463,000 | 1,799,000 |
| Total assets | US$ in thousands | 14,155,000 | 14,756,000 | 15,025,000 | 14,860,000 | 14,631,000 |
| Debt-to-assets ratio | 0.12 | 0.12 | 0.11 | 0.17 | 0.12 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,732,000K ÷ $14,155,000K
= 0.12
The debt-to-assets ratio of Alcoa Corp has displayed fluctuating trends over the past five years. In 2023, the ratio stood at 0.13, up slightly from the previous year's ratio of 0.12. This indicates that for every $1 of assets, Alcoa Corp had $0.13 of debt in 2023.
Comparing this to the ratios in 2021 and 2020, which were 0.11 and 0.17 respectively, it can be observed that the company has maintained a relatively moderate level of debt relative to its assets. Additionally, the 2023 ratio of 0.13 is in line with the 2019 ratio of 0.12, suggesting a consistent debt management strategy over the five-year period.
Overall, with a debt-to-assets ratio hovering around the 0.12 to 0.13 range in recent years, Alcoa Corp appears to have a reasonable balance between debt utilization and asset ownership, indicating a stable financial position in terms of leveraging its resources.
Peer comparison
Dec 31, 2023