Franklin Electric Co Inc (FELE)
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 | — | — | — | — | — |
| Total assets | US$ in thousands | 1,728,100 | 1,694,200 | 1,575,200 | 1,272,300 | 1,194,700 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $1,728,100K
= 0.00
The debt-to-assets ratio of Franklin Electric Co., Inc. has fluctuated over the past five years. In 2020, the ratio was relatively low at 0.07, indicating that the company had a lower level of debt relative to its total assets. This could suggest a conservative approach to financing its operations.
However, the ratio increased significantly in 2022 to 0.13, indicating that the company's debt level had risen compared to its assets. This could imply increased leverage and potential risk associated with higher debt obligations.
In 2021 and 2019, the debt-to-assets ratio was relatively stable at 0.12 and 0.10, respectively. These levels suggest a moderate amount of debt compared to the company's assets, indicating a balanced approach to capital structure.
The most recent data for 2023 shows a notable decrease in the debt-to-assets ratio to 0.06, which could signal improved financial health and potentially reduced financial risk for Franklin Electric Co., Inc. It is important to continue monitoring this ratio in future periods to assess the company's ongoing ability to manage its debt levels relative to its assets.
Peer comparison
Dec 31, 2023