Cognex Corporation (CGNX)

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	—	—	—	—	—
Total assets	US$ in thousands	2,017,810	1,958,140	2,003,660	1,800,700	1,885,940
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $2,017,810K
= 0.00

The debt-to-assets ratio for Cognex Corp. has remained at 0.00 for the past five years, indicating that the company has been operating with zero debt relative to its assets during this period. A debt-to-assets ratio of 0.00 suggests that the company has not utilized any debt financing to support its operations, and has relied solely on equity financing. This could indicate a conservative financial strategy, as the company is not exposed to the risks associated with debt such as interest payments and potential financial distress. Additionally, a low or zero debt-to-assets ratio might signal a strong financial position and creditworthiness to investors and creditors. However, it is important to note that while a zero debt-to-assets ratio may imply financial stability, it could also suggest underutilization of leverage which could potentially limit the company's growth opportunities. Further analysis of the company's capital structure and overall financial performance would provide more insights into the implications of the consistent 0.00 debt-to-assets ratio over the past five years.