Iridium Communications Inc (IRDM)
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 | — | 1,494,300 | 1,622,100 | 1,647,900 | 1,468,100 |
| Total assets | US$ in thousands | 2,661,780 | 2,954,010 | 3,180,800 | 3,360,950 | 3,623,560 |
| Debt-to-assets ratio | 0.00 | 0.51 | 0.51 | 0.49 | 0.41 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $2,661,780K
= 0.00
The debt-to-assets ratio of Iridium Communications Inc has shown a fluctuating trend over the past five years. As of December 31, 2023, the ratio stands at 0.56, indicating that 56% of the company's assets are financed through debt. This represents an increase from the previous year when the ratio was at 0.50.
Comparing the current ratio to historical data, it is evident that the company's leverage has increased slightly in 2023 compared to 2022 but remains relatively stable within the range of 0.48 to 0.50 observed in 2020 and 2021. Despite the increase in 2023, the ratio of 0.56 does not raise immediate concerns about the company's ability to cover its debt obligations with its assets.
It is essential for investors and stakeholders to monitor the debt-to-assets ratio over time to assess the company's financial health and ability to manage its debt levels effectively.
Peer comparison
Dec 31, 2023