Axcelis Technologies Inc (ACLS)
Debt-to-capital ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 864,882 | 667,256 | 538,959 | 481,602 | 419,427 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $864,882K)
= 0.00
The debt-to-capital ratio of Axcelis Technologies Inc has exhibited a decreasing trend over the past five years, indicating a positive development in the company's financial structure. A lower debt-to-capital ratio signifies that the company's reliance on debt funding in proportion to its total capital has been decreasing. This may suggest improved financial stability and reduced risk associated with debt obligations.
The decreasing trend from 0.10 in 2019 to 0.05 in 2023 reflects a gradual shift towards a more equity-financed capital structure. This trend could imply that the company is becoming less leveraged over time, which could potentially lower its financial risk and increase its ability to weather economic downturns.
Overall, the declining debt-to-capital ratio of Axcelis Technologies Inc over the years may signal a positive financial management strategy to maintain a healthy balance between debt and equity financing, contributing to the company's long-term sustainability and resilience in the market.
Peer comparison
Dec 31, 2023