GATX Corporation (GATX)

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	11,326,000	10,072,000	9,541,700	8,937,600	7,994,000
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 ÷ $11,326,000K
= 0.00

The debt-to-assets ratio of GATX Corp. has been gradually increasing over the past five years, rising from 0.58 in 2019 to 0.65 in 2023. This trend indicates that the company has been relying more on debt financing to support its operations and investments compared to its total assets.

A debt-to-assets ratio of 0.65 in 2023 means that for every dollar of assets, GATX Corp. has $0.65 of debt. This suggests that a significant portion of the company's assets are funded by debt, which can pose certain risks, such as increased interest expenses and higher financial leverage.

While a higher debt-to-assets ratio can increase the company's financial risk, it can also indicate that GATX Corp. is leveraging debt to finance growth opportunities and potentially achieve higher returns on equity. However, investors and creditors may closely monitor this ratio to assess the company's ability to manage its debt levels and meet its financial obligations effectively.

Overall, the increasing trend in GATX Corp.'s debt-to-assets ratio highlights the importance of closely monitoring the company's debt management strategies and overall financial health to ensure sustainable growth and profitability.