Celanese Corporation (CE)
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 | 13,662,000 | 13,373,000 | 3,176,000 | 3,227,000 | 3,409,000 |
| Total assets | US$ in thousands | 26,597,000 | 26,272,000 | 11,975,000 | 10,909,000 | 9,476,000 |
| Debt-to-assets ratio | 0.51 | 0.51 | 0.27 | 0.30 | 0.36 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $13,662,000K ÷ $26,597,000K
= 0.51
The debt-to-assets ratio of Celanese Corp has exhibited fluctuations over the past five years. In 2023, the ratio stands at 0.51, indicating that 51% of the company's assets are financed by debt. This represents a decrease from the previous year where the ratio was 0.56.
Comparing the current ratio to the ratios in 2021 and 2020, we observe a significant increase from 0.33 and 0.34, respectively. However, when looking back further to 2019, we see a decrease from 0.41 to the current 0.51.
The upward trend in 2023 compared to 2021 and 2020 might suggest that Celanese Corp has relied more on debt financing to support its assets. It is important for investors and stakeholders to closely monitor this ratio to assess the company's leverage and financial risk management. Additionally, further analysis is recommended to understand the reasons behind these fluctuations and their implications for the company's financial health and stability.
Peer comparison
Dec 31, 2023