Bristol-Myers Squibb Company (BMY)
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 | 36,653,000 | 35,056,000 | 39,605,000 | 48,336,000 | 43,387,000 |
| Total assets | US$ in thousands | 95,159,000 | 96,820,000 | 109,314,000 | 118,481,000 | 129,944,000 |
| Debt-to-assets ratio | 0.39 | 0.36 | 0.36 | 0.41 | 0.33 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $36,653,000K ÷ $95,159,000K
= 0.39
The debt-to-assets ratio of Bristol-Myers Squibb Co. has shown some fluctuations over the past five years, ranging from 0.36 in 2019 to 0.43 in 2020. The ratio indicates the proportion of the company's assets that are financed through debt.
The company's debt-to-assets ratio has remained relatively stable in recent years, hovering around the 0.41 to 0.42 range in the last three years. This suggests that Bristol-Myers Squibb Co. has been managing its debt levels in relation to its assets effectively.
The decrease in the ratio from 0.43 in 2020 to 0.42 in 2023 indicates a slight improvement in the company's debt management, as it implies that the proportion of assets financed by debt has decreased slightly.
Overall, the company's debt-to-assets ratio suggests a moderate reliance on debt to finance its operations and investments, but the slight fluctuations over the years indicate a consistent effort to maintain a balanced capital structure.
Peer comparison
Dec 31, 2023