Mesa Laboratories Inc (MLAB)

Debt-to-assets ratio

		Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Long-term debt	US$ in thousands	171,198	170,272	169,365	145,675	140,278
Total assets	US$ in thousands	446,796	661,832	707,369	601,475	409,108
Debt-to-assets ratio		0.38	0.26	0.24	0.24	0.34

March 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $171,198K ÷ $446,796K
= 0.38

The debt-to-assets ratio of Mesa Laboratories Inc has varied over the past five years. In the most recent fiscal year ending on March 31, 2024, the ratio stood at 0.38, indicating that 38% of the company's assets were financed through debt. This represents an increase from the previous year, where the ratio was at 0.26.

Looking back further, we can see that the company's debt-to-assets ratio has generally been stable around the range of 0.24 to 0.34 over the past four years. This suggests that Mesa Laboratories Inc has maintained a relatively conservative approach to financing its operations, with a significant portion of its assets being funded through equity rather than debt.

Overall, the increasing trend in the debt-to-assets ratio in the most recent year could indicate a shift towards a slightly more leveraged capital structure. It would be important to monitor this trend in the coming years to assess the company's ability to manage its debt levels effectively and maintain a healthy balance between debt and equity financing.