H B Fuller Company (FUL)
Debt-to-assets ratio
| Dec 2, 2023 | Dec 3, 2022 | Nov 27, 2021 | Nov 28, 2020 | Nov 30, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,836,590 | 1,736,260 | 1,591,480 | 1,756,980 | 1,898,380 |
| Total assets | US$ in thousands | 4,723,580 | 4,463,630 | 4,274,530 | 4,036,700 | 3,985,730 |
| Debt-to-assets ratio | 0.39 | 0.39 | 0.37 | 0.44 | 0.48 |
December 2, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,836,590K ÷ $4,723,580K
= 0.39
The debt-to-assets ratio of H.B. Fuller Company has exhibited a declining trend over the past five years, decreasing from 0.50 in 2019 to 0.39 in 2023. This indicates that the company has been successful in reducing its reliance on debt to finance its assets. A lower ratio suggests that a smaller portion of the company's assets are being financed by debt, which can be viewed positively by investors and creditors. It indicates a stronger financial position and lower financial risk. However, it is important to consider the overall industry and economic conditions when evaluating this ratio as different industries may have different typical debt levels.