IDEX Corporation (IEX)
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 | 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 |
| Total stockholders’ equity | US$ in thousands | 3,541,400 | 3,387,100 | 3,278,700 | 3,229,200 | 3,039,300 | 2,802,800 | 2,788,200 | 2,899,000 | 2,803,100 | 2,726,240 | 2,672,800 | 2,609,930 | 2,540,200 | 2,396,530 | 2,261,040 | 2,229,790 | 2,263,230 | 2,163,050 | 2,112,040 | 2,055,230 |
| Financial leverage ratio | 1.66 | 1.67 | 1.74 | 1.75 | 1.81 | 1.75 | 1.76 | 1.72 | 1.75 | 1.78 | 1.79 | 1.71 | 1.74 | 1.76 | 1.80 | 1.77 | 1.69 | 1.72 | 1.72 | 1.73 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $5,865,200K ÷ $3,541,400K
= 1.66
The financial leverage ratio of Idex Corporation has shown a decreasing trend over the past eight quarters, indicating an improvement in the company's financial leverage position. The ratio has decreased from 1.81 in Q4 2022 to 1.66 in Q4 2023.
A financial leverage ratio above 1 indicates that the company is mainly funded by debt rather than equity. The decreasing trend suggests that the company has been reducing its reliance on debt financing relative to equity, which can be seen as a positive sign for investors and creditors.
Overall, the decreasing trend in the financial leverage ratio of Idex Corporation indicates a strengthening financial position and a reduced risk of financial distress due to high leverage. It is important for the company to continue monitoring and managing its debt levels to maintain a healthy balance between debt and equity financing.
Peer comparison
Dec 31, 2023