CTS Corporation (CTS)

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	67,500	83,670	50,000	54,600	99,700
Total assets	US$ in thousands	741,167	748,487	664,462	626,049	643,354
Debt-to-assets ratio		0.09	0.11	0.08	0.09	0.15

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $67,500K ÷ $741,167K
= 0.09

The debt-to-assets ratio of CTS Corp. has shown fluctuations over the past five years. The ratio decreased from 0.15 in 2019 to 0.08 in 2021, indicating that the company reduced its reliance on debt to finance its assets during that period. However, the ratio slightly increased to 0.11 in 2022 before decreasing again to 0.09 in 2023.

Overall, CTS Corp. has maintained a relatively low level of debt relative to its assets, peaking at 0.15 in 2019 but generally staying below 0.11 in subsequent years. This suggests that the company has been managing its debt levels prudently and has not overleveraged its assets. The downward trend in the ratio indicates that CTS Corp. has been successful in maintaining a healthy balance between debt and assets over the years.