Avery Dennison Corp (AVY)
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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | US$ in thousands | 8,209,800 | 8,133,100 | 8,266,300 | 8,222,300 | 7,950,500 | 8,042,300 | 8,092,400 | 8,138,800 | 7,971,600 | 7,967,700 | 6,422,500 | 6,273,200 | 6,083,900 | 5,720,800 | 5,651,700 | 6,260,900 | 5,488,800 | 5,338,700 | 5,389,700 | 5,353,700 |
| Debt-to-assets ratio | 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 | 0.00 | 0.00 | 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
The debt-to-assets ratio for Avery Dennison Corp has consistently remained at 0.00 for the past 20 quarters up to Dec 31, 2023. This indicates that the company has not used debt to finance its assets during this period. A debt-to-assets ratio of 0.00 implies that the company has funded all its assets through equity or other non-debt sources. This can be seen as a positive sign as it indicates a lower financial risk for the company, as there is no interest expense associated with debt financing. However, it is important to note that a very low debt-to-assets ratio may also suggest missed opportunities for leveraging debt to potentially increase returns on equity. Overall, Avery Dennison Corp's consistent 0.00 debt-to-assets ratio reflects a conservative financing strategy.
Peer comparison
Dec 31, 2023