Ingersoll Rand Inc (IR)
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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | US$ in thousands | 15,563,500 | 15,154,000 | 15,028,600 | 14,995,000 | 14,765,900 | 14,225,600 | 14,221,400 | 15,104,800 | 15,154,500 | 14,922,800 | 16,176,700 | 15,861,900 | 16,058,600 | 15,610,500 | 15,433,300 | 15,358,300 | 4,628,400 | 4,553,800 | 4,594,300 | 4,566,800 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $15,563,500K
= 0.00
The debt-to-assets ratio of Ingersoll-Rand Inc has shown a decreasing trend over the past eight quarters, indicating an improvement in the company's financial leverage. The ratio decreased from 0.23 in Q1 2022 to 0.17 in Q4 2023. This suggests that the company has been successful in reducing its debt relative to its total assets.
A lower debt-to-assets ratio is generally considered favorable as it signifies lower financial risk and greater financial stability. Ingersoll-Rand Inc's decreasing trend in this ratio implies that the company has been managing its debt levels effectively while potentially increasing its asset base or paying down debt.
Overall, the decreasing debt-to-assets ratio reflects positively on Ingersoll-Rand Inc's financial health and may indicate prudent financial management strategies being implemented by the company.
Peer comparison
Dec 31, 2023