Avery Dennison Corp (AVY)
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 | — | — | — | — | — |
| Total assets | US$ in thousands | 8,209,800 | 7,950,500 | 7,971,600 | 6,083,900 | 5,488,800 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $8,209,800K
= 0.00
Avery Dennison Corp has maintained a consistent debt-to-assets ratio of 0.00 over the past five years, indicating that the company has not utilized debt to finance its operations or investments during this period. A debt-to-assets ratio of 0.00 suggests that the company's assets are primarily funded by equity rather than debt. This could indicate a conservative financial strategy, as the company has minimal financial leverage and may be less exposed to the risks associated with high levels of debt. However, it's important to note that a low debt-to-assets ratio can also signal missed opportunities for growth and potential tax benefits associated with debt financing. Overall, Avery Dennison Corp's consistent 0.00 debt-to-assets ratio reflects a financially stable and potentially risk-averse capital structure.
Peer comparison
Dec 31, 2023