Air Products and Chemicals Inc (APD)

Debt-to-assets ratio

		Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020
Long-term debt	US$ in thousands	—	—	—	—	—
Total assets	US$ in thousands	39,574,600	32,002,500	27,192,600	26,859,200	25,168,500
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00

September 30, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $39,574,600K
= 0.00

The debt-to-assets ratio for Air Products and Chemicals Inc has remained constant at 0.00 over the past five years, indicating that the company has not utilized any debt to finance its assets during this period. A debt-to-assets ratio of 0.00 suggests that the company relies solely on equity financing to support its operations and investments, which can be viewed positively as it indicates a lower risk of financial distress associated with high debt levels. However, it is important to note that while a low debt-to-assets ratio can be favorable, it may also indicate that the company is not taking advantage of potentially beneficial leverage opportunities that could enhance returns for shareholders. Overall, further examination of the company's financial strategy and management of capital structure would be necessary to fully evaluate the implications of the consistently low debt-to-assets ratio.