Healthcare Services Group Inc (HCSG)
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 | — | — | — | — | — |
| Total assets | US$ in thousands | 790,652 | 720,836 | 777,529 | 785,031 | 722,592 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $790,652K
= 0.00
The debt-to-assets ratio for Healthcare Services Group, Inc. has been consistently low over the past five years, with values ranging from 0.00 to 0.03. This indicates that the company has a relatively low level of debt compared to its total assets during these periods.
Specifically, in 2023 and 2022, the debt-to-assets ratio remained stable at 0.03, suggesting that the company's debt levels relative to its assets have not significantly changed during these years. In 2021 and 2020, the ratio was at 0.00, indicating that the company had almost no debt in relation to its assets during these years.
Although there was a slight increase to 0.01 in 2019, the debt-to-assets ratio still remained low, signifying the company's conservative approach to leveraging debt to finance its operations.
Overall, the consistent low debt-to-assets ratio of Healthcare Services Group, Inc. indicates a solid financial position with minimal reliance on debt to support its asset base.