CTS Corporation (CTS)

Debt-to-assets ratio

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Long-term debt US$ in thousands 67,500 76,665 77,040 80,261 83,670 85,478 91,027 50,000 50,000 50,000 50,000 50,000 54,600 106,300 141,300 151,200 99,700 112,700 50,000 50,000
Total assets US$ in thousands 741,167 753,962 755,906 747,007 748,487 734,679 729,634 684,746 664,462 651,973 647,298 634,665 626,049 655,853 663,389 685,165 643,354 648,001 580,701 574,008
Debt-to-assets ratio 0.09 0.10 0.10 0.11 0.11 0.12 0.12 0.07 0.08 0.08 0.08 0.08 0.09 0.16 0.21 0.22 0.15 0.17 0.09 0.09

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 been relatively stable over the past eight quarters, ranging from 0.07 to 0.12. The ratio measures the proportion of the company's assets that are financed through debt, with lower ratios indicating lower financial risk and higher ratios indicating higher financial leverage.

In the most recent quarter, Q4 2023, CTS Corp. had a debt-to-assets ratio of 0.09, suggesting that 9% of its assets were financed with debt. Compared to the previous quarters, the ratio has slightly decreased from 0.10 in Q3 2023.

Overall, CTS Corp. has maintained a conservative approach to debt financing, as indicated by the consistently low debt-to-assets ratios observed over the past two years. This suggests that the company has a strong asset base relative to its debt obligations, which could be viewed positively by investors and creditors.