Illumina Inc (ILMN)

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 1,489,000 1,487,000 1,695,000 673,000 1,141,000
Total assets US$ in thousands 10,111,000 12,252,000 15,217,000 7,585,000 7,316,000
Debt-to-assets ratio 0.15 0.12 0.11 0.09 0.16

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,489,000K ÷ $10,111,000K
= 0.15

Based on the data provided, Illumina Inc's debt-to-assets ratio has fluctuated over the past five years. The ratio stood at 0.15 as of December 31, 2023, indicating that the company had $0.15 in debt for every $1 of assets. This represents a decrease from the previous year's ratio of 0.22, suggesting that Illumina has reduced its reliance on debt financing compared to the prior period.

Looking back over the five-year period, the company's debt-to-assets ratio has ranged from 0.11 to 0.22. The lowest ratio of 0.11 was observed on January 2, 2022, while the highest ratio of 0.22 was recorded on January 1, 2023. These fluctuations indicate that Illumina's capital structure has evolved, with varying levels of debt relative to its asset base.

Overall, a lower debt-to-assets ratio can signal a stronger financial position and lower financial risk due to reduced leverage. However, it is essential to consider other factors such as the company's industry norms, overall financial health, and strategic goals when interpreting the debt-to-assets ratio in isolation.


Peer comparison

Dec 31, 2023


See also:

Illumina Inc Debt to Assets