IDEX Corporation (IEX)
Financial leverage ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 5,865,200 | 5,511,900 | 4,917,200 | 4,414,400 | 3,813,900 |
| Total stockholders’ equity | US$ in thousands | 3,541,400 | 3,039,300 | 2,803,100 | 2,540,200 | 2,263,230 |
| Financial leverage ratio | 1.66 | 1.81 | 1.75 | 1.74 | 1.69 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $5,865,200K ÷ $3,541,400K
= 1.66
The financial leverage ratio for Idex Corporation has fluctuated over the past five years. In 2023, the ratio stands at 1.66, showing a slight decrease compared to the prior year's 1.81. This suggests that the company's reliance on debt to finance its assets decreased in 2023.
Looking further back, the trend indicates some variability in the financial leverage ratio, with ratios ranging from 1.69 to 1.81. This variability could indicate shifts in the company's capital structure and borrowing habits over the years.
Overall, a financial leverage ratio of 1.66 in 2023 indicates that Idex Corporation has $1.66 in debt for every $1 of equity, reflecting a moderate level of leverage. This ratio provides insight into the company's risk exposure and ability to meet its financial obligations.
Peer comparison
Dec 31, 2023