3D Systems Corporation (DDD)

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	319,356	449,510	446,859	19,218	45,215
Total assets	US$ in thousands	990,660	1,446,610	1,549,100	733,055	807,312
Debt-to-assets ratio		0.32	0.31	0.29	0.03	0.06

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $319,356K ÷ $990,660K
= 0.32

The debt-to-assets ratio of 3D Systems Corporation has shown a fluctuating trend over the past five years. In 2023, the ratio stands at 0.32, representing an increase from the previous year's ratio of 0.31. This indicates that the company's debt level in relation to its total assets has slightly increased.

Comparing the current ratio to earlier years, we observe a steady increase since 2020 when it was significantly lower at 0.03. The substantial rise from 2020 to 2021 is noteworthy, indicating a strategic shift towards a higher debt structure relative to assets. Despite the subsequent fluctuations, the ratio has remained relatively elevated compared to earlier years.

A debt-to-assets ratio of 0.32 suggests that 32% of the company's assets are financed through debt, indicating that a significant portion of the company's assets is funded by creditors rather than shareholders or internal funds. This might imply a higher level of financial leverage and associated risks for the company.

Overall, although the debt-to-assets ratio of 3D Systems Corporation has shown variability, the recent trend suggests a move towards a higher debt dependence for asset financing, which could have implications on the company's financial stability and risk profile.