Innovex International, Inc (INVX)

Debt-to-capital ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Long-term debt	US$ in thousands	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	958,156	328,921	251,280	180,551	1,041,530
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $958,156K)
= 0.00

The data indicates that Innovex International, Inc has maintained a debt-to-capital ratio of zero from December 31, 2020, through December 31, 2024. This consistent ratio suggests that the company has not utilized any debt financing during this period, relying entirely on equity or other non-debt sources to fund its operations and capital investments. Such a debt-free capital structure reflects a conservative financial approach, potentially minimizing financial risk associated with leveraging. However, it may also suggest limited use of debt's advantages, such as tax benefits or increased financial leverage to support growth initiatives. Overall, the company's zero debt-to-capital ratio over this four-year span underscores its strategy of maintaining a debt-free capital structure.