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.