ICU Medical Inc (ICUI)
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 | 1,577,770 | 1,623,680 | 0 | — | — |
| Total assets | US$ in thousands | 4,378,440 | 4,515,640 | 1,880,740 | 1,763,690 | 1,692,380 |
| Debt-to-assets ratio | 0.36 | 0.36 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,577,770K ÷ $4,378,440K
= 0.36
The debt-to-assets ratio for ICU Medical, Inc. has shown consistency over the past three years since 2021, with the ratio standing at 0.37 for both December 31, 2023, and December 31, 2022. This indicates that 37% of the company's assets are financed by debt. Notably, in the years prior to 2021, specifically in 2020 and 2019, the company had a debt-to-assets ratio of 0.00, suggesting that no debt was used to finance assets during those periods.
The consistent level of the debt-to-assets ratio since 2021 may imply that ICU Medical, Inc. is comfortable maintaining a moderate level of debt to support its asset base. This ratio is important in assessing the company's financial risk and leverage, as a higher ratio could indicate greater financial risk due to a higher reliance on debt financing. Further analysis would be required to understand the reasons behind the company's choice of leverage and its impact on overall financial performance and stability.
Peer comparison
Dec 31, 2023