Eli Lilly and Company (LLY)

Debt-to-assets ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Long-term debt	US$ in thousands	28,527,100	18,320,800	14,737,500	15,346,400	16,586,600
Total assets	US$ in thousands	78,714,900	64,006,300	49,489,800	48,806,000	46,633,100
Debt-to-assets ratio		0.36	0.29	0.30	0.31	0.36

December 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $28,527,100K ÷ $78,714,900K
= 0.36

The debt-to-assets ratio for Eli Lilly and Company has shown a decreasing trend over the period from December 31, 2020, to December 31, 2024. The ratio decreased from 0.36 in 2020 to 0.31 in 2021, further declining to 0.30 in 2022, and 0.29 in 2023. However, there was a slight increase in the ratio to 0.36 in 2024.

A decreasing trend in the debt-to-assets ratio generally indicates that the company is relying less on debt to finance its assets over the years, which may suggest improved financial stability and reduced financial risk. However, the slight increase in 2024 may require further investigation to understand the reasons behind the change and evaluate its potential impact on the company's overall financial health.