Fulgent Genetics Inc (FLGT)

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 2,964 3,372 — — —
Total assets US$ in thousands 1,235,330 1,386,050 1,278,720 700,461 88,756
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
= $2,964K ÷ $1,235,330K
= 0.00

The debt-to-assets ratio for Fulgent Genetics Inc has fluctuated over the past five years. In 2023 and 2019, the company had a debt-to-assets ratio of 0.00, indicating that the company had no debt relative to its total assets. In 2022 and 2020, the ratio increased to 0.01 and 0.02, respectively, suggesting a slight increase in leverage as a proportion of total assets. The highest level of leverage was observed in 2021 at 0.02, indicating that the company had a slightly higher level of debt relative to its total assets compared to the other years analyzed. Overall, the trend in the debt-to-assets ratio for Fulgent Genetics Inc shows relatively conservative financial leverage practices, with the company maintaining a low level of debt compared to its total assets.