Hubbell Inc (HUBB)

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	2,023,200	1,437,900	1,435,500	1,436,900	1,506,000
Total assets	US$ in thousands	6,914,000	5,402,600	5,281,500	5,085,100	4,903,000
Debt-to-assets ratio		0.29	0.27	0.27	0.28	0.31

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,023,200K ÷ $6,914,000K
= 0.29

The debt-to-assets ratio of Hubbell Inc. has shown some fluctuations over the past five years. In 2023, the ratio increased to 0.31 from 0.27 in 2022 and 2021. This indicates that in 2023, the company's total debt accounted for 31% of its total assets. Compared to the previous year, Hubbell Inc. had a slightly higher reliance on debt to finance its operations and investments.

However, it is worth noting that the 2023 ratio of 0.31 is still lower than the ratio in 2019 and 2020, where it stood at 0.32. This suggests that Hubbell Inc. has been relatively successful in managing its debt levels and maintaining a reasonable balance between debt and assets.

Overall, while the slight increase in the debt-to-assets ratio in 2023 may indicate a higher debt burden for the company, the historical trend suggests that Hubbell Inc. has generally maintained a stable and manageable level of debt in relation to its total assets over the past five years.