Altair Engineering Inc (ALTR)

Debt-to-assets ratio

Mar 31, 2024 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
Long-term debt US$ in thousands 226,223 225,929 225,635 225,320 225,039 305,604 305,158 304,676 — — — — — 188,300 — — — — — —
Total assets US$ in thousands 1,379,910 1,363,490 1,251,990 1,255,810 1,226,170 1,204,740 1,124,930 1,128,510 1,133,690 1,163,280 1,014,480 820,216 817,913 829,902 779,703 736,846 734,654 743,145 716,700 729,720
Debt-to-assets ratio 0.16 0.17 0.18 0.18 0.18 0.25 0.27 0.27 0.00 0.00 0.00 0.00 0.00 0.23 0.00 0.00 0.00 0.00 0.00 0.00

March 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $226,223K ÷ $1,379,910K
= 0.16

The debt-to-assets ratio of Altair Engineering Inc has shown fluctuations over the past few quarters. As of March 31, 2024, the ratio stands at 0.16, indicating that 16% of the company's assets are financed through debt.

The trend in the debt-to-assets ratio has been generally decreasing since the beginning of 2023 when it was at 0.25. This downward trend suggests that Altair Engineering Inc has been reducing its reliance on debt to finance its operations and investments.

It is notable that the ratio was at 0.00 in several quarters, including the beginning of 2022 and the most recent December 31, 2021. This indicates that there was a period where the company had no debt on its balance sheet relative to its assets.

Overall, the decreasing trend in the debt-to-assets ratio, along with the periods of zero debt, suggests that Altair Engineering Inc has been managing its financial leverage prudently and enhancing its financial stability by relying more on equity financing than debt.