Goodyear Tire & Rubber Co (GT)
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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | US$ in thousands | 21,582,000 | 22,499,000 | 22,814,000 | 23,171,000 | 22,431,000 | 23,378,000 | 22,901,000 | 22,622,000 | 21,402,000 | 21,617,000 | 21,180,000 | 16,569,000 | 16,506,000 | 16,192,000 | 15,827,000 | 16,691,000 | 17,185,000 | 18,299,000 | 18,470,000 | 18,273,000 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $21,582,000K
= 0.00
Goodyear Tire & Rubber Co.'s debt-to-assets ratio has been relatively stable over the past eight quarters, ranging from 0.35 to 0.39. This ratio indicates that, on average, approximately 35% to 39% of the company's total assets are financed by debt.
A decreasing trend in the debt-to-assets ratio would generally be viewed positively as it suggests lower financial risk and greater financial stability. Conversely, an increasing trend could raise concerns about the company's ability to meet its debt obligations.
Overall, Goodyear Tire & Rubber Co.'s debt-to-assets ratio appears to be within a reasonable range, indicating a moderate level of leverage in its capital structure. It is essential for investors and stakeholders to continue monitoring the company's debt levels relative to its assets and industry benchmarks to assess its financial health and risk profile accurately.