ICU Medical Inc (ICUI)

Financial leverage 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
Total assets	US$ in thousands	4,378,440	4,376,860	4,463,040	4,470,630	4,515,640	4,450,480	4,590,000	4,746,730	1,880,740	1,839,350	1,802,840	1,765,230	1,763,690	1,729,540	1,859,060	1,816,980	1,692,380	1,637,780	1,622,920	1,613,270
Total stockholders’ equity	US$ in thousands	2,123,410	2,098,360	2,114,820	2,100,400	2,089,930	2,012,800	2,085,870	2,178,900	1,616,030	1,589,970	1,557,260	1,520,770	1,502,260	1,452,220	1,411,800	1,375,890	1,377,240	1,340,340	1,317,860	1,282,690
Financial leverage ratio		2.06	2.09	2.11	2.13	2.16	2.21	2.20	2.18	1.16	1.16	1.16	1.16	1.17	1.19	1.32	1.32	1.23	1.22	1.23	1.26

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $4,378,440K ÷ $2,123,410K
= 2.06

The financial leverage ratio of ICU Medical, Inc. has been fluctuating over the past eight quarters. The ratio decreased from 2.16 in Q4 2022 to 2.06 in Q4 2023, indicating a lower level of financial leverage at the end of 2023 compared to the previous year. However, there was a slight increase in the ratio during Q1 to Q3 2023 before decreasing again in Q4 2023.

Overall, the trend suggests that ICU Medical, Inc. has been managing its financial leverage slightly more effectively in the most recent quarter, as indicated by the lower ratio. It is important to closely monitor this ratio in conjunction with other financial metrics to assess the company's overall financial health and risk management practices.