3D Systems Corporation (DDD)

Debt-to-assets ratio

		Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Long-term debt	US$ in thousands	449,510	446,859	19,218	45,215	25,000
Total assets	US$ in thousands	1,446,610	1,549,100	733,055	807,312	825,832
Debt-to-assets ratio		0.31	0.29	0.03	0.06	0.03

December 31, 2022 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $449,510K ÷ $1,446,610K
= 0.31

The debt-to-assets ratio of 3D Systems Corp. has shown consistent variation over the past five years. In 2022, the ratio increased to 0.31 from 0.29 in 2021, indicating that the company's debt obligations relative to its total assets have slightly risen. The gradual upward trend in this ratio could suggest a greater reliance on debt financing to support its asset base. However, it is important to note that the current ratio remains below 0.5, indicating that the company's assets still largely outweigh its debt. Compared to 2020 and 2019, where the ratios were 0.04 and 0.07 respectively, the recent increase may signal a shift in the company's capital structure and possibly a more leverage-based approach to funding its operations and investments. Furthermore, in 2018, the ratio was also 0.04, indicating a return to previous levels. This implies that the recent increase in the debt-to-assets ratio may not necessarily indicate a significant departure from historical levels. Nonetheless, it is essential for stakeholders to closely monitor this trend and assess the company's ability to manage and service its increasing debt levels.