Blackbaud Inc (BLKB)

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	760,405	723,376	827,403	858,912	840,241	835,881	921,619	963,109	937,483	514,418	531,973	537,924	518,193	497,953	478,919	520,576	459,600	495,556	553,812	576,068
Total assets	US$ in thousands	2,912,280	2,603,280	3,093,010	2,639,350	2,992,700	2,626,580	2,825,520	2,628,700	2,971,620	1,654,940	1,903,360	1,684,340	2,044,730	1,651,160	1,896,810	1,670,920	1,992,960	1,710,010	1,873,960	1,702,410
Debt-to-assets ratio		0.26	0.28	0.27	0.33	0.28	0.32	0.33	0.37	0.32	0.31	0.28	0.32	0.25	0.30	0.25	0.31	0.23	0.29	0.30	0.34

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $760,405K ÷ $2,912,280K
= 0.26

The debt-to-assets ratio for Blackbaud Inc has shown some fluctuations over the past eight quarters. In Q1 2022, the ratio was at its highest at 0.37, indicating that 37% of the company's assets were financed by debt. Subsequently, the ratio decreased to 0.33 in Q2 and Q3 2022 before dropping to 0.29 in Q4 2022.

Throughout the first three quarters of 2023, the debt-to-assets ratio hovered between 0.27 and 0.33. This implies that the company has been able to effectively manage its debt levels in relation to its total assets during this period. Overall, the trend indicates that Blackbaud Inc has maintained a relatively conservative leverage position, with a significant portion of its assets financed through equity rather than debt.