Avient Corp (AVNT)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	2,070,500	2,176,700	1,850,300	1,854,000	1,210,900
Total assets	US$ in thousands	5,968,500	6,085,000	4,997,200	4,870,500	3,273,300
Debt-to-assets ratio		0.35	0.36	0.37	0.38	0.37

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,070,500K ÷ $5,968,500K
= 0.35

The debt-to-assets ratio of Avient Corp has been consistently decreasing over the past five years, indicating a positive trend in the company's financial leverage. The ratio decreased from 0.38 in 2019 to 0.35 in 2023. This suggests that Avient Corp has been successful in reducing its reliance on debt to finance its assets, potentially improving its financial stability and risk profile. The declining trend in the debt-to-assets ratio may reflect effective debt management strategies or improved asset efficiency. Overall, a decreasing debt-to-assets ratio over time is generally considered a positive indicator of a company's financial health and sustainable growth.