Ball Corporation (BALL)
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 | 8,070,000 | 7,990,000 | 8,030,000 | 8,300,000 | 6,337,000 |
| Total assets | US$ in thousands | 19,303,000 | 19,909,000 | 19,714,000 | 18,252,000 | 17,360,000 |
| Debt-to-assets ratio | 0.42 | 0.40 | 0.41 | 0.45 | 0.37 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $8,070,000K ÷ $19,303,000K
= 0.42
The debt-to-assets ratio of Ball Corp. has shown some fluctuation over the past five years. In 2023, the ratio stood at 0.44, slightly lower than the previous year's ratio of 0.45. This indicates that the company had $0.44 in debt for every $1 of assets at the end of 2023.
Comparing this to previous years, we see that the ratio was highest in 2019 at 0.45, and has generally hovered around this level over the years. In 2021, there was a dip to 0.39, suggesting a decrease in the proportion of debt to assets that year. However, the ratio increased in 2022 and remained relatively stable in 2023.
Overall, the trend in Ball Corp.'s debt-to-assets ratio indicates that the company has been able to maintain a relatively moderate level of debt in relation to its total assets over the past five years. This can be a positive sign for investors and creditors as it suggests a balanced approach to financing operations.
Peer comparison
Dec 31, 2023