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.