Azenta Inc (AZTA)
Financial leverage ratio
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 2,885,720 | 3,716,120 | 1,819,510 | 1,559,260 | 1,516,000 |
| Total stockholders’ equity | US$ in thousands | 2,534,500 | 3,363,390 | 1,325,330 | 1,213,610 | 1,138,950 |
| Financial leverage ratio | 1.14 | 1.10 | 1.37 | 1.28 | 1.33 |
September 30, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $2,885,720K ÷ $2,534,500K
= 1.14
The financial leverage ratio measures the extent to which a company relies on debt to finance its assets. Azenta Inc's financial leverage ratio has shown fluctuation over the past five years, ranging from 1.14 in 2023 to 1.37 in 2021.
The ratio indicates that for every dollar of equity, Azenta Inc has $1.14 of total assets in 2023. This suggests a slight increase in reliance on debt compared to the previous year, as the ratio rose from 1.10 in 2022. In 2021, the ratio reached its peak at 1.37, signaling a higher level of debt financing relative to equity. Conversely, the ratio decreased to 1.28 in 2020 and 1.33 in 2019, indicating a reduction in reliance on debt financing in those years.
Overall, the trend in Azenta Inc's financial leverage ratio suggests some variability in the company's capital structure and financing decisions over the past five years. This fluctuation may indicate changes in the company's risk profile and ability to service its debt obligations.
Peer comparison
Sep 30, 2023