Illumina Inc (ILMN)

Debt-to-assets ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Long-term debt	US$ in thousands	1,490,000	1,988,000	1,490,000	1,490,000	1,489,000	1,489,000	1,488,000	—	1,487,000	—	—	—	1,695,000	—	—	—	673,000	666,000	659,000	652,000
Total assets	US$ in thousands	6,303,000	6,014,000	6,081,000	10,040,000	10,111,000	10,122,000	11,774,000	11,811,000	12,252,000	11,256,000	15,448,000	15,274,000	15,217,000	15,063,000	8,675,000	8,755,000	7,585,000	7,404,000	7,248,000	7,261,000
Debt-to-assets ratio		0.24	0.33	0.25	0.15	0.15	0.15	0.13	0.00	0.12	0.00	0.00	0.00	0.11	0.00	0.00	0.00	0.09	0.09	0.09	0.09

December 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,490,000K ÷ $6,303,000K
= 0.24

The debt-to-assets ratio of Illumina Inc has been relatively stable at around 0.09 from March 31, 2020, to March 31, 2021. This indicates that the company had low levels of debt in relation to its total assets during this period. However, there was a significant increase in the ratio to 0.11 as of December 31, 2021, suggesting a possible increase in debt relative to assets.

Subsequently, from March 31, 2022, to June 30, 2024, the company effectively reduced its debt levels as the ratio remained at 0.00. However, a notable spike occurred by the end of September 30, 2024, when the ratio surged to 0.33, and then decreased slightly to 0.24 by December 31, 2024. This indicates that Illumina Inc may have taken on more debt in relation to its total assets, which could imply increased financial leverage during this period.

Overall, monitoring the debt-to-assets ratio is crucial for assessing the company's financial risk and solvency, as changes in the ratio can provide insights into the company's debt management strategies and financial health.