Generac Holdings Inc (GNRC)
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 | 1,434,820 | 1,370,970 | 882,060 | 833,990 | 832,236 |
| Total assets | US$ in thousands | 5,093,310 | 5,169,460 | 4,877,780 | 3,235,420 | 2,665,670 |
| Debt-to-assets ratio | 0.28 | 0.27 | 0.18 | 0.26 | 0.31 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,434,820K ÷ $5,093,310K
= 0.28
Generac Holdings Inc's debt-to-assets ratio has displayed fluctuations over the past five years. The ratio stood at 0.31 as of December 31, 2023, indicating that the company financed approximately 31% of its assets through debt. This represents an increase from the previous year, where the ratio was 0.28.
Comparing the latest ratio to the figures from 2021 and 2020, we observe a general upward trend in the debt-to-assets ratio, suggesting an increase in the proportion of assets financed by debt during these years. However, in 2021, the ratio notably increased to 0.20, a significant decline from the higher ratios of 0.27 and 0.34 in 2020 and 2019, respectively.
The fluctuation in the debt-to-assets ratio may indicate shifts in Generac Holdings Inc's capital structure and financing strategies over the years. It is essential to monitor this ratio alongside other financial metrics to fully assess the company's overall financial health and leverage position.
Peer comparison
Dec 31, 2023