IDEX Corporation (IEX)
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 | 1,325,100 | 1,320,800 | 1,471,500 | 1,470,700 | 1,468,700 | 1,191,100 | 1,190,900 | 1,190,600 | 1,190,300 | 1,190,080 | 1,189,830 | 1,044,590 | 1,044,400 | 1,044,110 | 1,044,440 | 999,020 | 848,864 | 848,728 | 848,555 | 848,437 |
| Total assets | US$ in thousands | 5,865,200 | 5,669,600 | 5,719,900 | 5,658,000 | 5,511,900 | 4,892,600 | 4,912,800 | 4,999,700 | 4,917,200 | 4,854,580 | 4,783,000 | 4,460,730 | 4,414,400 | 4,225,600 | 4,073,590 | 3,943,680 | 3,813,900 | 3,713,900 | 3,640,220 | 3,551,460 |
| Debt-to-assets ratio | 0.23 | 0.23 | 0.26 | 0.26 | 0.27 | 0.24 | 0.24 | 0.24 | 0.24 | 0.25 | 0.25 | 0.23 | 0.24 | 0.25 | 0.26 | 0.25 | 0.22 | 0.23 | 0.23 | 0.24 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,325,100K ÷ $5,865,200K
= 0.23
Over the past eight quarters, Idex Corporation has maintained a relatively stable debt-to-assets ratio within the range of 0.23 to 0.27. This indicates that the company has been effectively managing its debt levels in relation to its total assets.
The consistent ratio around the 0.24 to 0.26 range reflects a moderate level of debt relative to the company's asset base. It suggests that a significant portion of Idex Corporation's assets are financed by debt. The slight fluctuations seen in the ratio over the quarters could be attributable to changes in the company's capital structure or adjustments in its debt levels.
Overall, a debt-to-assets ratio between 0.2 and 0.3 is generally considered healthy, as it signifies a balanced mix of debt and equity financing. Idex Corporation's consistent ratio within this range indicates a prudent approach to debt management and a stable financial position.
Peer comparison
Dec 31, 2023