Astec Industries Inc (ASTE)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 653,400 | 626,900 | 650,800 | 642,500 | 601,900 |
| Debt-to-capital ratio | 0.10 | 0.11 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $72,000K ÷ ($72,000K + $653,400K)
= 0.10
The debt-to-capital ratio of Astec Industries Inc. has shown a gradual increase from 0.00 in both 2021 and 2020 to 0.11 in 2023 and 0.12 in 2022. This indicates that the company has started to utilize debt to finance a portion of its capital structure in the past two years. While the current ratio of 0.11 in 2023 is still relatively low, it suggests that the company's reliance on debt has increased slightly. It will be important to monitor this trend in the future to ensure that the company maintains a healthy balance between debt and equity in its capital structure.
Peer comparison
Dec 31, 2023