IDEX Corporation (IEX)
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 | 1,325,100 | 1,468,700 | 1,190,300 | 1,044,400 | 848,864 |
| Total assets | US$ in thousands | 5,865,200 | 5,511,900 | 4,917,200 | 4,414,400 | 3,813,900 |
| Debt-to-assets ratio | 0.23 | 0.27 | 0.24 | 0.24 | 0.22 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,325,100K ÷ $5,865,200K
= 0.23
The debt-to-assets ratio of Idex Corporation has shown some fluctuation over the past five years. As of December 31, 2023, the company's debt-to-assets ratio stood at 0.23, which indicates that 23% of the company's assets are financed through debt. This ratio has decreased from the previous year's ratio of 0.27 in December 2022, suggesting a reduction in the proportion of debt relative to assets.
Comparing the current ratio to the ratios of the previous years, we can see that it is slightly lower than the ratios recorded in December 2022 (0.27) and December 2021 (0.24), but higher than the ratios in December 2020 (0.24) and December 2019 (0.22). This trend indicates some fluctuations in the company's debt funding relative to its asset base over the years.
Overall, a debt-to-assets ratio of 0.23 implies that Idex Corporation has a relatively low level of debt compared to its total assets, indicating a strong asset base and potentially lower financial risk. It suggests that the company has a conservative approach to debt financing, which may provide greater financial stability and flexibility in managing its liabilities.
Peer comparison
Dec 31, 2023