Amgen Inc (AMGN)
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 | 63,170,000 | 37,354,000 | 33,222,000 | 32,895,000 | 26,950,000 |
| Total assets | US$ in thousands | 97,154,000 | 65,121,000 | 61,165,000 | 62,948,000 | 59,707,000 |
| Debt-to-assets ratio | 0.65 | 0.57 | 0.54 | 0.52 | 0.45 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $63,170,000K ÷ $97,154,000K
= 0.65
The debt-to-assets ratio of AMGEN Inc. has been gradually increasing over the past five years, indicating a higher proportion of debt to total assets. In 2023, the ratio reached 0.67, up from 0.60 in 2022 and continuing a pattern of rising leverage. This upward trend suggests that the company has been relying more on debt financing relative to its total assets to support its operations and growth initiatives. While an increasing debt-to-assets ratio can indicate higher financial risk, it may also be a strategic decision to capitalize on low-interest rates or leverage opportunities for expansion. It is important for stakeholders to further assess the company's overall financial health and ability to manage its debt levels effectively in light of this trend.
Peer comparison
Dec 31, 2023