Allegion PLC (ALLE)

Debt-to-assets 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	1,602,400	2,005,100	2,046,700	2,109,300	2,081,900	2,214,500	2,018,100	1,426,800	1,429,500	1,192,500	1,430,300	1,429,800	1,429,400	1,428,900	1,428,500	1,428,000	1,427,600	1,427,000	1,393,100	1,401,300
Total assets	US$ in thousands	4,311,500	4,183,100	4,163,800	4,124,400	3,991,200	3,943,300	3,653,700	3,007,600	3,051,000	3,116,700	3,060,100	2,947,900	3,069,400	3,027,700	2,833,900	2,757,700	2,967,200	2,865,400	2,849,300	2,800,800
Debt-to-assets ratio		0.37	0.48	0.49	0.51	0.52	0.56	0.55	0.47	0.47	0.38	0.47	0.49	0.47	0.47	0.50	0.52	0.48	0.50	0.49	0.50

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,602,400K ÷ $4,311,500K
= 0.37

The debt-to-assets ratio of Allegion plc has shown a fluctuating trend over the past eight quarters. Starting from Q1 2022 with a ratio of 0.48, the ratio increased gradually to 0.56 in Q4 2022. However, in Q1 2023, there was a notable decrease to 0.51 before further declining to 0.47 in Q4 2023.

These fluctuations suggest that Allegion plc has been managing its debt levels in relation to its total assets, with some quarters indicating a higher proportion of debt relative to assets and others showing a lower proportion. Overall, a decreasing trend in the debt-to-assets ratio can indicate an improving financial position in terms of debt management and asset utilization. However, it's essential to continue monitoring this ratio to ensure the company maintains a healthy balance between debt and assets in the long term.