Alamo Group Inc (ALG)
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 | 1,409,390 | 1,308,510 | 1,205,740 | 1,121,860 | 1,212,760 |
| 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 ÷ $1,409,390K
= 0.00
The debt-to-assets ratio of Alamo Group Inc. has shown a decreasing trend over the past five years, indicating a more conservative approach to financing the company's operations. The ratio decreased from 0.37 in 2019 to 0.17 in 2023, reflecting a significant improvement in the company's ability to cover its liabilities with its assets. This suggests that Alamo Group Inc. has been effectively managing its debt levels and maintaining a stronger financial position relative to its asset base. A lower debt-to-assets ratio is generally considered favorable as it signifies lower financial risk and greater financial stability for the company. Overall, the decreasing trend in the debt-to-assets ratio for Alamo Group Inc. demonstrates a positive financial position and prudent debt management by the company.
Peer comparison
Dec 31, 2023