HNI Corp (HNI)
Debt-to-assets ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 294,300 | 428,300 | 188,800 | 174,600 | 174,524 |
| Total assets | US$ in thousands | 1,875,100 | 1,928,800 | 1,414,500 | 1,497,900 | 1,418,000 |
| Debt-to-assets ratio | 0.16 | 0.22 | 0.13 | 0.12 | 0.12 |
December 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $294,300K ÷ $1,875,100K
= 0.16
The debt-to-assets ratio for HNI Corp has shown a consistent trend in the last few years. As of December 31, 2020, the ratio was 0.12, and it remained relatively stable at 0.12 in 2021. However, there was a slight increase to 0.13 by December 31, 2022.
The ratio experienced a more significant jump to 0.22 by December 31, 2023, indicating an increase in debt relative to the company's assets. This could suggest a higher reliance on debt financing in that year.
Subsequently, the ratio decreased to 0.16 by December 31, 2024, although it remained higher than the levels observed in the earlier years. Overall, the fluctuations in the debt-to-assets ratio over the years indicate varying levels of debt utilization by HNI Corp in relation to its total assets.