Axcelis Technologies Inc (ACLS)
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 | — | — | — | — | — |
| Total assets | US$ in thousands | 1,281,970 | 1,013,640 | 753,240 | 624,624 | 548,094 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $1,281,970K
= 0.00
The debt-to-assets ratio for Axcelis Technologies Inc has shown a decreasing trend over the past five years, indicating a strengthening financial position in terms of debt management. The ratio decreased from 0.09 in 2019 to 0.04 in 2023. This suggests that the company has been reducing its reliance on debt to finance its operations and investments, which can lower financial risk and improve overall solvency.
A lower debt-to-assets ratio indicates that a smaller proportion of the company's assets is funded by debt, which could be perceived positively by investors and creditors. It may suggest that the company has been able to generate sufficient internal resources or equity financing to support its asset base without resorting to significant debt obligations.
Overall, the declining trend in Axcelis Technologies Inc's debt-to-assets ratio reflects a potentially healthier balance sheet and financial stability over the years, as the company appears to be managing its debt levels efficiently while maintaining a reasonable level of asset utilization.
Peer comparison
Dec 31, 2023