Iridium Communications Inc (IRDM)
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 | — | 1,470,670 | 1,499,200 | 1,501,400 | 1,494,300 | 1,568,500 | 1,552,400 | 1,605,900 | 1,622,100 | 1,627,300 | 1,638,000 | 1,638,600 | 1,647,900 | 1,600,390 | 1,603,620 | 1,606,880 | 1,468,100 | 1,631,500 | 1,742,810 | 1,737,060 |
| Total assets | US$ in thousands | 2,661,780 | 2,705,710 | 2,780,470 | 2,871,650 | 2,954,010 | 3,062,590 | 3,076,780 | 3,077,130 | 3,180,800 | 3,205,970 | 3,201,090 | 3,266,560 | 3,360,950 | 3,365,520 | 3,373,850 | 3,391,070 | 3,623,560 | 3,827,010 | 3,917,060 | 4,026,310 |
| Debt-to-assets ratio | 0.00 | 0.54 | 0.54 | 0.52 | 0.51 | 0.51 | 0.50 | 0.52 | 0.51 | 0.51 | 0.51 | 0.50 | 0.49 | 0.48 | 0.48 | 0.47 | 0.41 | 0.43 | 0.44 | 0.43 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $2,661,780K
= 0.00
Iridium Communications Inc's debt-to-assets ratio has shown a slight increase in the most recent quarter, reaching 0.56 in Q4 2023 compared to 0.53 in Q2 2023. This indicates that the company relies on debt financing for approximately 56% of its total assets at the end of Q4 2023. Overall, the trend in the debt-to-assets ratio has been relatively stable over the past year, hovering around the 0.50 to 0.56 range. A higher ratio such as this suggests that Iridium Communications Inc has a significant amount of debt relative to its total assets, which may indicate higher financial risk and leverage. Further analysis of the company's debt levels and ability to service that debt would provide a more comprehensive understanding of its financial health.
Peer comparison
Dec 31, 2023