Lennox International Inc (LII)
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 | — | 0 | 250,000 | 0 | — |
| Total assets | US$ in thousands | 2,798,300 | 2,567,600 | 2,171,900 | 2,032,500 | 2,034,900 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.12 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $2,798,300K
= 0.00
The debt-to-assets ratio of Lennox International Inc has shown some fluctuations over the past five years. In 2023, the ratio stands at 0.47, indicating that 47% of the company's assets are financed through debt. This represents an improvement from the previous year where the ratio was higher at 0.59.
Looking back at the trend, the ratio was relatively stable between 2020 and 2022, ranging from 0.48 to 0.59. However, there was a noticeable increase in 2021 when the ratio reached 0.57. The highest debt-to-assets ratio of 0.58 was recorded in 2019.
Overall, the downward trend in the debt-to-assets ratio over the past two years suggests that Lennox International Inc has been managing its debt levels more effectively in relation to its total assets. This decreasing trend may indicate a more conservative financial leverage strategy or better asset management practices. Further analysis of the company's debt structure and overall financial health would be beneficial to fully assess the implications of these ratio changes.
Peer comparison
Dec 31, 2023