Haynes International Inc (HAYN)
Debt-to-assets ratio
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 114,843 | 74,721 | — | — | — |
| Total assets | US$ in thousands | 706,281 | 632,295 | 546,455 | 560,724 | 593,800 |
| Debt-to-assets ratio | 0.16 | 0.12 | 0.00 | 0.00 | 0.00 |
September 30, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $114,843K ÷ $706,281K
= 0.16
The debt-to-assets ratio for Haynes International Inc. has fluctuated over the past five years, indicating changes in the company's leverage and financial risk. In 2023, the ratio stands at 0.17, a significant increase from the previous year's 0.01. This suggests that the company relies more heavily on debt financing relative to its total assets compared to the previous year. The sharp increase in the ratio may be a cause for concern as it indicates a higher proportion of assets funded by debt, potentially increasing the company's financial risk. It would be important to assess the reasons behind this substantial change in leverage to better understand its implications for the company's financial health and stability.
Peer comparison
Sep 30, 2023