AdvanSix Inc (ASIX)
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 | 170,000 | 115,000 | 135,000 | 275,000 | 297,000 |
| Total assets | US$ in thousands | 1,496,020 | 1,495,330 | 1,312,000 | 1,263,410 | 1,235,970 |
| Debt-to-assets ratio | 0.11 | 0.08 | 0.10 | 0.22 | 0.24 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $170,000K ÷ $1,496,020K
= 0.11
AdvanSix Inc's debt-to-assets ratio has shown a fluctuating trend over the past five years. The ratio was 0.24 in 2019 and decreased to 0.22 in 2020, indicating a slight improvement in the company's leverage position. However, there was a more significant drop to 0.10 in 2021, suggesting a considerable reduction in debt relative to assets. This improvement was not sustained, as the ratio increased to 0.08 in 2022 and then slightly rose again to 0.11 in 2023.
Overall, the trend in AdvanSix Inc's debt-to-assets ratio demonstrates variability in the company's capital structure and leverage levels in recent years. It is important to monitor this ratio over time to assess the company's ability to meet its financial obligations and manage its debt effectively.
Peer comparison
Dec 31, 2023