Avanos Medical Inc (AVNS)

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	—	—	—	—	226,300	—	—	—	130,000	145,000	165,000	175,000	180,000	—	—	—	248,100	247,900	247,800	247,900
Total assets	US$ in thousands	1,692,400	1,724,900	1,666,700	1,734,900	1,786,900	1,775,200	1,752,800	1,766,500	1,603,600	1,597,900	1,683,300	1,648,800	1,672,800	1,799,100	1,755,900	1,763,700	1,799,600	1,807,700	1,783,400	1,834,000
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.13	0.00	0.00	0.00	0.08	0.09	0.10	0.11	0.11	0.00	0.00	0.00	0.14	0.14	0.14	0.14

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $1,692,400K
= 0.00

The debt-to-assets ratio of Avanos Medical Inc has been relatively stable over the past eight quarters, ranging from 0.10 to 0.15. This ratio indicates the proportion of the company's assets that are financed through debt.

In Q4 2023, the ratio was at its lowest at 0.10, suggesting that only 10% of the company's assets were funded by debt. This may indicate a conservative approach to financing, with a larger portion of assets being funded through equity or retained earnings.

Although the ratio increased slightly in Q3 2023 to 0.15, it remained within a reasonable range. This slight increase may indicate a temporary increase in debt levels, potentially for strategic investments or operational needs.

Overall, Avanos Medical Inc's debt-to-assets ratio has shown consistency and stability, indicating a healthy balance between debt and assets in its capital structure. A lower ratio generally signifies lower financial risk and greater financial stability for the company.