Astec Industries Inc (ASTE)
Debt-to-assets ratio
| 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 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 72,000 | 2,400 | 2,400 | 2,200 | 78,100 | 3,000 | 3,200 | 1,200 | 200 | 500 | 500 | 400 | 400 | 380 | 431 | 493 | 700 | 717 | 28,891 | 56,629 |
| Total assets | US$ in thousands | 1,059,300 | 1,074,400 | 1,010,400 | 1,008,400 | 1,014,400 | 944,600 | 949,900 | 943,400 | 905,800 | 910,700 | 902,300 | 868,300 | 846,700 | 819,655 | 793,838 | 804,920 | 800,500 | 815,669 | 848,555 | 872,305 |
| Debt-to-assets ratio | 0.07 | 0.00 | 0.00 | 0.00 | 0.08 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 | 0.06 |
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 for Astec Industries Inc. has shown some fluctuations over the past eight quarters. The ratio ranged from a low of 0.01 in Q2 and Q3 of 2022 to a high of 0.12 in Q3 2023.
A lower debt-to-assets ratio indicates that the company has a lower level of debt relative to its total assets, reflecting a stronger financial position and less financial risk. On the other hand, a higher ratio suggests a higher level of debt compared to assets, which could potentially increase the company's financial risk and make it more vulnerable to economic downturns or interest rate fluctuations.
Overall, Astec Industries Inc. has maintained a relatively low debt-to-assets ratio, indicating a conservative approach to capital structure management. However, the increase in the ratio in Q3 2023 compared to the previous quarters may warrant further investigation to understand the reasons behind this change and assess its potential impact on the company's financial stability in the future.
Peer comparison
Dec 31, 2023