Heritage Financial Corporation (HFWA)
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 | 7,174,960 | 6,980,100 | 7,432,410 | 6,615,320 | 5,552,970 |
| 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 ÷ $7,174,960K
= 0.00
The debt-to-assets ratio of Heritage Financial Corp. has shown a significant increase from 0.00 in the years leading up to 2022, to 0.07 as of December 31, 2023. This indicates that the company has started to utilize debt financing to support its operations or growth initiatives. The increase in the debt-to-assets ratio suggests that a larger portion of Heritage Financial Corp.'s assets are being funded by debt rather than equity. This could potentially indicate a shift in the company's capital structure towards increased leverage. It would be important for stakeholders to monitor how effectively the company manages its debt levels to ensure financial stability and sustainable growth in the long run.