Graco Inc (GGG)
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 | 0 | 75,000 | 75,000 | 150,000 | 164,298 |
| Total assets | US$ in thousands | 2,722,010 | 2,438,900 | 2,443,200 | 1,988,130 | 1,692,210 |
| Debt-to-assets ratio | 0.00 | 0.03 | 0.03 | 0.08 | 0.10 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $0K ÷ $2,722,010K
= 0.00
The debt-to-assets ratio for Graco Inc has shown a declining trend over the past five years, indicating a decreasing reliance on debt financing relative to its total assets. In 2023, the ratio stands at 0.00, suggesting that the company has no debt in relation to its assets, which may indicate strong financial health and robust capital structure. This is a significant improvement from the ratio of 0.10 in 2019, reflecting a strategic shift towards lower debt levels and potentially reduced financial risk. Overall, the decreasing trend in the debt-to-assets ratio suggests that Graco Inc has been effectively managing its leverage levels and maintaining a more conservative approach to capital structure.
Peer comparison
Dec 31, 2023