ITT Inc (ITT)
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 | 5,700 | 7,700 | 9,900 | 13,000 | 12,900 |
| Total assets | US$ in thousands | 3,932,600 | 3,780,300 | 3,565,400 | 4,277,600 | 4,107,700 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $5,700K ÷ $3,932,600K
= 0.00
The debt-to-assets ratio for ITT Inc has fluctuated over the past five years. In 2023, the ratio stands at 0.05, indicating that the company has $0.05 in debt for every $1 in assets. This represents a significant decrease from the previous year's ratio of 0.12. The decrease in the ratio suggests that the company has reduced its debt relative to its total assets or has increased its asset base more than its debt.
Compared to the ratios in 2021 and 2020, the 2023 ratio of 0.05 is closer to the lower end of the range, indicating a stronger financial position in terms of debt management. In 2019, the company had the lowest ratio of 0.02, demonstrating even lower reliance on debt to finance its assets.
Overall, the decreasing trend in the debt-to-assets ratio indicates improved financial stability and less risk associated with debt for ITT Inc over the past few years.
Peer comparison
Dec 31, 2023