AAON Inc (AAON)
Debt-to-equity ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | 78,420 | 78,536 | 83,664 | 71,004 | 76,291 | 106,249 | 65,000 | 40,000 | 6,394 | 6,383 | 6,373 | 6,363 | 6,351 | 6,340 | 6,330 | 6,320 | — | — | — |
| Total stockholders’ equity | US$ in thousands | 735,224 | 682,484 | 660,111 | 609,414 | 560,714 | 523,858 | 490,506 | 480,156 | 466,170 | 400,279 | 383,726 | 373,038 | 350,865 | 344,892 | 322,695 | 306,323 | 290,140 | 279,567 | 264,569 | 259,370 |
| Debt-to-equity ratio | 0.00 | 0.11 | 0.12 | 0.14 | 0.13 | 0.15 | 0.22 | 0.14 | 0.09 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $735,224K
= 0.00
The debt-to-equity ratio of AAON Inc. has shown some fluctuations over the past eight quarters. In Q4 2023, the ratio stood at 0.07, indicating a relatively low level of debt compared to equity. This represents an improvement from the previous quarter where the ratio was 0.13.
Throughout the past year, the company has generally maintained a conservative approach to debt, with the ratio ranging from 0.07 to 0.22. The peak of 0.22 was observed in Q2 2022, which may signal increased reliance on debt financing during that period. However, it decreased to 0.14 in Q1 2022.
Overall, the trend in the debt-to-equity ratio suggests that AAON Inc. has managed its debt levels prudently, with a generally low ratio indicating a favorable balance between debt and equity financing. Monitoring this ratio going forward will be important to assess the company's leverage and financial risk.
Peer comparison
Dec 31, 2023