Century Aluminum Company (CENX)
Debt-to-assets ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | 430,900 | 381,600 | 329,800 | 243,100 |
| Total assets | US$ in thousands | 1,939,400 | 1,846,500 | 1,472,000 | 1,569,900 | 1,399,600 |
| Debt-to-assets ratio | 0.00 | 0.23 | 0.26 | 0.21 | 0.17 |
December 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $1,939,400K
= 0.00
Century Aluminum Company's debt-to-assets ratio has shown some fluctuation over the past five years. In 2020, the ratio stood at 0.17, indicating that only 17% of the company's assets were financed by debt. By the end of 2021, the ratio increased to 0.21, suggesting a slight uptick in the use of debt relative to assets. This trend continued into 2022, with the ratio rising to 0.26, indicating that 26% of the company's assets were financed by debt.
However, in 2023, there was a decrease in the debt-to-assets ratio to 0.23, signaling a slight reduction in the proportion of assets financed by debt. Strikingly, by the end of 2024, the ratio dropped to 0.00, indicating that the company had either significantly reduced its debt levels or had no debt at all relative to its assets.
Overall, the varying debt-to-assets ratios suggest that Century Aluminum Company has managed its debt levels effectively over the five-year period, potentially reducing its reliance on debt as a source of financing or improving its asset base. It would be essential to investigate the reasons behind the significant drop in the ratio in 2024 to understand the company's financial strategy and future outlook.
Peer comparison
Dec 31, 2024