LCI Industries (LCII)

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	846,834	908,245	915,756	1,055,620	1,095,890	1,039,870	1,101,790	1,265,380	1,231,960	1,012,080	941,824	726,608	720,418	616,076	681,242	750,519	612,906	261,631	245,310	286,311
Total assets	US$ in thousands	2,959,320	3,033,810	3,076,400	3,209,370	3,246,910	3,268,970	3,482,700	3,640,720	3,288,090	3,088,180	2,776,180	2,500,470	2,298,030	2,110,680	2,018,270	2,051,210	1,862,600	1,414,810	1,330,220	1,342,550
Debt-to-assets ratio		0.29	0.30	0.30	0.33	0.34	0.32	0.32	0.35	0.37	0.33	0.34	0.29	0.31	0.29	0.34	0.37	0.33	0.18	0.18	0.21

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $846,834K ÷ $2,959,320K
= 0.29

The debt-to-assets ratio for LCI Industries has been relatively stable over the past eight quarters, ranging from 0.29 to 0.35. This ratio measures the proportion of the company's total debt to its total assets, providing insights into its leverage and financial risk.

The decreasing trend from Q1 2023 to Q3 2023 suggests that the company has been effectively managing its debt levels in relation to its assets. However, the slight increase in Q4 2023 indicates a potential increase in debt relative to assets, which could pose higher financial risk.

Overall, with a debt-to-assets ratio consistently below 0.5, LCI Industries appears to have a relatively low level of debt compared to its total assets, indicating a strong financial position and potential ability to meet its debt obligations. Investors and stakeholders may view this positively as it suggests a lower risk of default and financial distress.