Quest Diagnostics Incorporated (DGX)
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 | 4,410,000 | — | — | — | 3,978,000 | — | — | — | 4,010,000 | — | — | — | 4,013,000 | 4,018,000 | 4,020,000 | 4,033,000 | 3,966,000 | 3,188,000 | 3,169,000 | 3,131,000 |
| Total assets | US$ in thousands | 14,022,000 | 13,482,000 | 13,425,000 | 12,794,000 | 12,837,000 | 13,223,000 | 13,312,000 | 13,442,000 | 13,611,000 | 13,572,000 | 12,861,000 | 13,931,000 | 14,026,000 | 14,143,000 | 12,990,000 | 12,049,000 | 12,843,000 | 12,019,000 | 11,760,000 | 11,937,000 |
| Debt-to-assets ratio | 0.31 | 0.00 | 0.00 | 0.00 | 0.31 | 0.00 | 0.00 | 0.00 | 0.29 | 0.00 | 0.00 | 0.00 | 0.29 | 0.28 | 0.31 | 0.33 | 0.31 | 0.27 | 0.27 | 0.26 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $4,410,000K ÷ $14,022,000K
= 0.31
Quest Diagnostics, Inc.'s debt-to-assets ratio has shown a slight increasing trend over the past four quarters, from 0.30 in Q1 2022 to 0.35 in Q4 2023. This indicates that the company has been relying more on debt to finance its assets. Despite the increase, the ratio remains below 1, indicating that the company's assets are predominantly financed by equity rather than debt. However, investors and creditors may still want to monitor this ratio closely to ensure the company is managing its debt levels prudently as too much debt can pose financial risks. Overall, the upward trend in the debt-to-assets ratio suggests a potential shift in Quest Diagnostics' capital structure.
Peer comparison
Dec 31, 2023