Illumina Inc (ILMN)

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	1,489,000	1,489,000	1,488,000	—	1,487,000	—	—	—	1,695,000	—	—	—	673,000	666,000	659,000	652,000	1,141,000	1,131,000	1,120,000	1,112,000
Total assets	US$ in thousands	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	7,316,000	7,089,000	6,973,000	7,390,000
Debt-to-assets ratio		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	0.16	0.16	0.16	0.15

December 31, 2023 calculation

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

The debt-to-assets ratio of Illumina Inc has shown fluctuations over the past eight quarters. It stood at 0.15 in both Q4 2023 and Q3 2023, indicating that 15% of the company's assets are financed by debt during those periods. The ratio then increased to 0.19 in Q2 2023 and Q1 2023, before reaching its highest point of 0.22 in Q4 2022.

Comparing the data to the previous quarters, it is evident that the company had a lower debt-to-assets ratio in Q3 2022 and Q2 2022 at 0.15 and 0.11 respectively. Q1 2022 also showed a ratio of 0.11.

Overall, the trend in the debt-to-assets ratio indicates that Illumina Inc has been gradually increasing its reliance on debt to finance its assets over the past two years, with a peak in Q4 2022. This can signal a potential increase in financial risk for the company, as higher debt levels may lead to higher interest payments and financial obligations in the future.