Bruker Corporation (BRKR)

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	1,160,300	1,200,500	1,221,800	842,300	812,800
Total assets	US$ in thousands	4,249,900	3,611,800	3,650,000	3,049,000	2,771,500
Debt-to-assets ratio		0.27	0.33	0.33	0.28	0.29

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,160,300K ÷ $4,249,900K
= 0.27

The debt-to-assets ratio for Bruker Corp has exhibited fluctuations over the past five years. In 2023, the ratio decreased to 0.30 from 0.34 in 2022, indicating that the company relied less on debt financing relative to its total assets. This may signal a stronger financial position and lower financial risk.

Comparing the 2023 ratio to the levels observed in 2021 and 2020 (0.37 and 0.28 respectively), we observe that the company's reliance on debt in 2023 was lower than in the previous years. However, it is noteworthy that the ratio is slightly higher than the 2019 level of 0.29.

Overall, the decreasing trend in the debt-to-assets ratio suggests that Bruker Corp has been managing its debt levels efficiently relative to its asset base, potentially indicating a prudent financial strategy and a healthier balance sheet structure.