Hexcel Corporation (HXL)

Debt-to-assets ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	699,400	754,100	779,000	768,500	723,300	797,000	812,000	857,500	822,400	876,400	904,500	912,000	925,500	998,700	1,264,700	1,389,500	1,050,600	1,115,200	1,115,800	1,160,000
Total assets	US$ in thousands	2,918,500	2,846,300	2,921,900	2,907,300	2,837,300	2,775,700	2,819,400	2,853,500	2,819,400	2,872,600	2,917,400	2,893,500	2,917,800	2,972,100	3,222,500	3,433,300	3,128,600	3,155,200	3,195,100	3,166,000
Debt-to-assets ratio		0.24	0.26	0.27	0.26	0.25	0.29	0.29	0.30	0.29	0.31	0.31	0.32	0.32	0.34	0.39	0.40	0.34	0.35	0.35	0.37

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $699,400K ÷ $2,918,500K
= 0.24

The debt-to-assets ratio of Hexcel Corp. has shown some fluctuations over the past eight quarters. In Q4 2023 and Q1 2023, the ratio decreased slightly to 0.24 and 0.26, respectively, indicating a lower proportion of debt relative to total assets. This could signify a more conservative approach to financing the company's operations during these periods.

However, a slight increase in the ratio was observed in Q2 2023 to 0.27, followed by a stabilization at 0.26 in Q3 2023. These values suggest that Hexcel Corp. maintained a relatively stable level of debt in relation to its total assets, which might indicate a consistent financing strategy during these quarters.

Looking back to Q2 and Q3 2022, the debt-to-assets ratio was higher at 0.29 and 0.30, respectively. This suggests that the company had a higher proportion of debt compared to total assets during these periods, potentially indicating greater leverage in its capital structure.

Overall, the trend in Hexcel Corp.'s debt-to-assets ratio fluctuated within a relatively narrow range over the past eight quarters, with occasional variations suggesting changes in the company's financing decisions and capital structure management.