Astec Industries Inc (ASTE)
Financial leverage ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 1,059,300 | 1,014,400 | 905,800 | 846,700 | 800,500 |
| Total stockholders’ equity | US$ in thousands | 653,400 | 626,900 | 650,800 | 642,500 | 601,900 |
| Financial leverage ratio | 1.62 | 1.62 | 1.39 | 1.32 | 1.33 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $1,059,300K ÷ $653,400K
= 1.62
The financial leverage ratio of Astec Industries Inc. has shown a fluctuating trend over the past five years. Starting at 1.33 in 2019, it increased to 1.32 in 2020, indicating a slight improvement in the company's financial leverage position. However, in 2021, there was a notable increase to 1.39, suggesting higher utilization of debt in the company's capital structure. The ratio remained stable at 1.62 in both 2022 and 2023, indicating that the company has maintained a consistent level of financial leverage in recent years. Overall, Astec Industries Inc. appears to have a moderate level of financial leverage, with a recent trend towards slightly higher leverage compared to previous years.
Peer comparison
Dec 31, 2023