Baxter International Inc (BAX)
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 | 28,276,000 | 28,287,000 | 33,521,000 | 20,019,000 | 18,193,000 |
| 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 ÷ $28,276,000K
= 0.00
The debt-to-assets ratio of Baxter International Inc. has shown some fluctuations over the past five years. In 2023, the ratio stands at 0.49, indicating that the company utilized 49% of its total assets to fund its debt obligations. This represents a decrease from the previous year's ratio of 0.59, suggesting that Baxter has reduced its reliance on debt to finance its operations.
Comparing the 2023 ratio to 2021 and 2020, where the ratios were 0.53 and 0.31 respectively, we observe some variability in the company's debt management. The ratio in 2023 is closer to the 2021 level, showing that Baxter's debt utilization has somewhat stabilized.
Furthermore, when compared to the ratios of 2019 and 2020, which were 0.29 and 0.31 respectively, the current ratio of 0.49 indicates a higher proportion of debt relative to assets. This suggests that Baxter has taken on more debt in 2023 compared to those particular years.
Overall, while the debt-to-assets ratio of Baxter International Inc. has fluctuated over the past five years, it currently stands at a level that indicates a moderate reliance on debt to finance its operations. Investors and analysts may monitor future changes in this ratio to assess the company's financial health and leverage risk.
Peer comparison
Dec 31, 2023