Astec Industries Inc (ASTE)
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 | 72,000 | 78,100 | 200 | 400 | 700 |
| Total assets | US$ in thousands | 1,059,300 | 1,014,400 | 905,800 | 846,700 | 800,500 |
| Debt-to-assets ratio | 0.07 | 0.08 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $72,000K ÷ $1,059,300K
= 0.07
The debt-to-assets ratio of Astec Industries Inc. has been relatively low and stable over the past five years.
In 2019, the company had no debt relative to its assets, resulting in a debt-to-assets ratio of 0.00. This indicates that the company had no financial leverage through debt in that year.
However, from 2020 onwards, there was a slight increase in the debt-to-assets ratio, reaching 0.08 in 2023. This implies that the company has taken on a small amount of debt compared to its total assets but still maintains a low level of financial leverage.
Overall, the trend in the debt-to-assets ratio suggests that Astec Industries Inc. has been conservative in its use of debt financing, opting for a low leverage approach to funding its operations and investments. This indicates a lower financial risk and potential financial stability for the company.
Peer comparison
Dec 31, 2023