GXO Logistics Inc (GXO)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | 1,739,000 | — |
| Total assets | US$ in thousands | 9,507,000 | 9,219,000 | 7,271,000 |
| Debt-to-assets ratio | 0.00 | 0.19 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $9,507,000K
= 0.00
The debt-to-assets ratio of GXO Logistics Inc has fluctuated over the past four years. In 2023, the ratio decreased to 0.17 from 0.20 in 2022. This indicates that the company has improved its debt management by reducing its reliance on debt to finance its assets. Despite the decrease from 2022, the ratio remains relatively low, suggesting a conservative approach to debt utilization. Comparing to the ratios in 2021 and 2020, the company had higher debt-to-assets ratios, indicating a potential improvement in the company's financial health and risk management. Overall, a decreasing trend in the debt-to-assets ratio signifies a favorable development in GXO Logistics Inc's financial position regarding debt management and asset funding.
Peer comparison
Dec 31, 2023