The Ensign Group Inc (ENSG)
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 | 145,497 | 149,269 | 152,883 | — | — |
| Total assets | US$ in thousands | 4,177,540 | 3,452,020 | 2,850,620 | 2,545,580 | 2,361,910 |
| Debt-to-assets ratio | 0.03 | 0.04 | 0.05 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $145,497K ÷ $4,177,540K
= 0.03
The debt-to-assets ratio of Ensign Group Inc has shown a decreasing trend over the past five years, declining from 0.14 in 2019 to 0.04 in 2023. This ratio indicates that Ensign Group Inc relies less on debt financing relative to its total assets. A lower debt-to-assets ratio suggests that a company has a stronger financial position as it has a smaller proportion of debt in relation to its total assets. Ensign Group Inc's decreasing debt-to-assets ratio over the years signals improving financial stability and a reduced risk of financial distress. The company's prudent debt management and potentially strong operating cash flows may have contributed to this favorable trend, which could enhance its ability to invest in growth opportunities and withstand economic challenges.
Peer comparison
Dec 31, 2023