Benchmark Electronics Inc (BHE)

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	2,274,760	2,227,330	1,903,880	1,744,240	1,759,870
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 ÷ $2,274,760K
= 0.00

The debt-to-assets ratio for Benchmark Electronics Inc. has been relatively stable over the past five years, ranging between 0.07 and 0.15. This ratio indicates the proportion of the company's assets that are financed through debt.

In 2023 and 2022, the ratio remained consistent at 0.15, suggesting that 15% of the company's assets were funded by debt. This level of leverage indicates a moderate reliance on debt to finance operations and investments.

Compared to the lower ratios of 0.07 and 0.08 in 2021, 2020, and 2019, Benchmark Electronics Inc. has slightly increased its debt-to-assets ratio in recent years. This uptrend may signify a strategic decision to utilize debt as a source of capital for growth opportunities or other financial obligations.

Overall, the stability and moderate levels of the debt-to-assets ratio for Benchmark Electronics Inc. indicate a balanced approach to capital structure management, maintaining a healthy mix of debt and equity to support its operational and financial needs.