Gogo Inc (GOGO)
Debt-to-assets ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 587,501 | 588,733 | 590,051 | 688,991 | 690,173 | 691,337 | 692,482 | 693,617 | 694,760 | 695,894 | 697,035 | 1,163,820 | 827,968 | 1,126,630 | 1,118,600 | 1,124,710 | 1,101,250 | 1,096,170 | 1,092,320 | 1,030,360 |
| Total assets | US$ in thousands | 781,539 | 767,288 | 745,513 | 759,238 | 759,526 | 728,639 | 723,566 | 685,275 | 647,687 | 443,205 | 352,036 | 687,732 | 673,588 | 984,455 | 1,064,820 | 1,191,470 | 1,214,700 | 1,280,370 | 1,282,150 | 1,296,810 |
| Debt-to-assets ratio | 0.75 | 0.77 | 0.79 | 0.91 | 0.91 | 0.95 | 0.96 | 1.01 | 1.07 | 1.57 | 1.98 | 1.69 | 1.23 | 1.14 | 1.05 | 0.94 | 0.91 | 0.86 | 0.85 | 0.79 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $587,501K ÷ $781,539K
= 0.75
The debt-to-assets ratio of Gogo Inc has been fluctuating over the past eight quarters, ranging from 0.76 to 1.17. A higher debt-to-assets ratio indicates a greater proportion of the company's assets are funded by debt rather than equity.
From Q4 2022 to Q2 2023, the ratio increased steadily from 0.92 to 0.80, indicating a decrease in the company's reliance on debt financing. However, in Q3 2023, there was a slight uptick to 0.78, followed by another increase to 0.76 in Q4 2023.
Despite the fluctuations, the debt-to-assets ratio generally remained above 0.75, suggesting that a significant portion of Gogo Inc's assets are financed by debt. Investors and creditors may view a high debt-to-assets ratio as a risk factor, as it indicates the company's potential vulnerability to financial distress in the event of economic downturns or difficulties in servicing its debt obligations.
Peer comparison
Dec 31, 2023