Innospec Inc (IOSP)
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 | — | — | — | 0 | 58,600 |
| Total assets | US$ in thousands | 1,707,400 | 1,603,700 | 1,570,900 | 1,397,400 | 1,468,800 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.04 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $1,707,400K
= 0.00
The debt-to-assets ratio for Innospec Inc has consistently been low or even zero over the past five years, indicating that the company has been utilizing a minimal amount of debt relative to its total assets to finance its operations. The gradual decrease in the debt-to-assets ratio from 0.04 in 2019 to 0.00 in subsequent years suggests that the company has either reduced its debt levels or increased its asset base. A low debt-to-assets ratio is typically viewed positively by investors and creditors as it signifies lower financial risk and greater financial stability for the company. Innospec Inc's prudent management of debt in relation to its assets may be contributing to its overall financial health and stability.
Peer comparison
Dec 31, 2023