Astec Industries Inc (ASTE)
Debt-to-equity 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 stockholders’ equity | US$ in thousands | 653,400 | 634,500 | 647,300 | 635,500 | 626,900 | 627,700 | 643,300 | 656,800 | 650,800 | 662,700 | 658,800 | 646,600 | 642,500 | 622,901 | 621,539 | 612,203 | 601,900 | 617,060 | 619,979 | 598,619 |
| Debt-to-equity ratio | 0.11 | 0.00 | 0.00 | 0.00 | 0.12 | 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 | 0.05 | 0.09 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $72,000K ÷ $653,400K
= 0.11
The debt-to-equity ratio of Astec Industries Inc. fluctuated over the past eight quarters, ranging from 0.01 to 0.20. Generally, the company maintained a conservative approach towards debt, with the ratio consistently below 0.20 in most quarters. A low debt-to-equity ratio indicates that the company relies more on equity financing rather than debt for its operations and growth. This can be considered a positive sign for investors and creditors, as it suggests lower financial risk and a stronger financial position. Overall, Astec Industries Inc. appears to have a prudent capital structure with a relatively low level of debt compared to its equity.
Peer comparison
Dec 31, 2023