Celanese Corporation (CE)
Financial leverage ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 26,597,000 | 26,272,000 | 11,975,000 | 10,909,000 | 9,476,000 |
| Total stockholders’ equity | US$ in thousands | 7,091,000 | 5,637,000 | 4,189,000 | 3,526,000 | 2,507,000 |
| Financial leverage ratio | 3.75 | 4.66 | 2.86 | 3.09 | 3.78 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $26,597,000K ÷ $7,091,000K
= 3.75
The financial leverage ratio of Celanese Corp has fluctuated over the past five years. In 2023, the financial leverage ratio decreased to 3.75 from 4.66 in 2022, indicating a reduction in the company's reliance on debt to finance its operations. However, compared to 2021 and 2020, where the ratio was 2.86 and 3.09 respectively, the 2023 ratio remains higher, suggesting that the company still has a significant level of debt in its capital structure. When comparing to 2019, where the ratio was 3.78, the current ratio is slightly lower, indicating a potential improvement in managing the company's debt levels. Overall, while the recent decrease in the financial leverage ratio is a positive sign, Celanese Corp may still have relatively high financial leverage compared to previous years.
Peer comparison
Dec 31, 2023