Hologic Inc (HOLX)
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 | 2,531,200 | 2,808,400 | 2,712,200 | 2,713,900 | 2,783,600 |
| Total assets | US$ in thousands | 9,139,300 | 9,071,200 | 8,919,900 | 7,195,800 | 6,442,100 |
| Debt-to-assets ratio | 0.28 | 0.31 | 0.30 | 0.38 | 0.43 |
September 30, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,531,200K ÷ $9,139,300K
= 0.28
The debt-to-assets ratio for Hologic, Inc. has shown a declining trend over the past five years, indicating improved financial leverage and a stronger financial position. In 2019, the ratio stood at 0.48, and it has steadily decreased to 0.31 in 2023. This suggests that the company has been able to effectively manage its debt relative to its total assets. A decreasing debt-to-assets ratio is generally viewed positively by investors and creditors as it indicates a lower reliance on debt financing and a higher proportion of assets funded by equity. Hologic's ability to maintain a decreasing trend in this ratio reflects its prudent financial management and may enhance its creditworthiness and overall financial stability.
Peer comparison
Sep 30, 2023