L3Harris Technologies Inc (LHX)
Debt-to-assets ratio
| Jun 30, 2024 | Mar 31, 2024 | 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 | Sep 30, 2019 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 10,533,000 | 11,140,000 | 11,160,000 | 11,140,000 | 7,867,000 | 8,220,000 | 6,225,000 | 7,030,000 | 7,044,000 | 7,057,000 | 7,048,000 | 7,064,000 | 7,072,000 | 7,078,000 | 6,943,000 | 6,261,000 | 6,273,000 | 6,294,000 | 6,307,000 | 2,763,000 |
| Total assets | US$ in thousands | 41,657,000 | 41,816,000 | 41,687,000 | 42,293,000 | 35,362,000 | 35,507,000 | 33,524,000 | 33,381,000 | 34,138,000 | 34,444,000 | 34,709,000 | 35,018,000 | 36,064,000 | 36,590,000 | 36,960,000 | 37,145,000 | 37,852,000 | 38,105,000 | 38,947,000 | 10,117,000 |
| Debt-to-assets ratio | 0.25 | 0.27 | 0.27 | 0.26 | 0.22 | 0.23 | 0.19 | 0.21 | 0.21 | 0.20 | 0.20 | 0.20 | 0.20 | 0.19 | 0.19 | 0.17 | 0.17 | 0.17 | 0.16 | 0.27 |
June 30, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $10,533,000K ÷ $41,657,000K
= 0.25
The debt-to-assets ratio of L3Harris Technologies Inc has fluctuated over the past few years, ranging from 0.16 to 0.27. This ratio measures the proportion of the company's total debt to its total assets, indicating the extent to which the company relies on borrowing to finance its operations and investments.
From December 2020 to March 2021, the ratio remained relatively stable at around 0.19, indicating a consistent level of debt relative to assets during that period. However, there was an increase in the ratio from March 2021 to March 2022, suggesting an uptick in the company's debt relative to its assets.
It is notable that the ratio spiked to 0.27 in March 2019, indicating a higher level of debt in relation to assets at that time. The company managed to reduce this ratio in subsequent periods, maintaining it at around 0.20 to 0.23 for most of the recent periods.
Overall, the trend shows some variability in the debt-to-assets ratio, but the company has generally kept the ratio at a reasonable level below 0.30. Investors and analysts may view this as a positive sign of prudent debt management by L3Harris Technologies Inc.
Peer comparison
Jun 30, 2024