Dorian LPG Ltd (LPG)

Debt-to-assets ratio

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Long-term debt	US$ in thousands	551,549	564,686	578,167	591,227	604,257	577,202	589,961	605,107	590,687	506,738	500,392	527,318	539,652	552,103	564,343	594,246	581,919	586,305	601,577	616,875
Total assets	US$ in thousands	1,837,650	1,820,340	1,784,020	1,703,680	1,708,910	1,530,410	1,488,460	1,523,450	1,607,360	1,528,240	1,511,600	1,564,590	1,581,620	1,665,040	1,674,100	1,696,940	1,671,960	1,657,830	1,642,210	1,619,110
Debt-to-assets ratio		0.30	0.31	0.32	0.35	0.35	0.38	0.40	0.40	0.37	0.33	0.33	0.34	0.34	0.33	0.34	0.35	0.35	0.35	0.37	0.38

March 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $551,549K ÷ $1,837,650K
= 0.30

The debt-to-assets ratio for Dorian LPG Ltd has shown some fluctuations over the past quarters. The ratio has generally been below 0.40, indicating that the company has been effectively managing its debt levels in relation to its assets.

The ratio peaked at 0.40 in September 2022 and has since ranged between 0.31 to 0.35, showing a slight decreasing trend. This suggests that the company has either reduced its total debt or increased its total assets during this period.

Overall, the trend in Dorian LPG Ltd's debt-to-assets ratio indicates that the company has maintained a relatively healthy balance between debt and assets, which is a positive sign for investors and creditors.