MSA Safety (MSA)

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	575,170	565,445	597,651	287,157	328,394
Total assets	US$ in thousands	2,170,150	2,376,980	2,396,400	1,919,630	1,781,800
Debt-to-assets ratio		0.27	0.24	0.25	0.15	0.18

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $575,170K ÷ $2,170,150K
= 0.27

The debt-to-assets ratio for MSA Safety Inc has fluctuated over the past five years, ranging from 0.16 to 0.28. This ratio indicates the proportion of the company's assets that are financed by debt, with a higher ratio implying greater reliance on debt financing. In 2023, the ratio increased to 0.28 from 0.24 in 2022, suggesting that the company's debt relative to its total assets has increased. While MSA Safety Inc's debt-to-assets ratio is above its levels in 2020 and 2019, it is still within a reasonable range, indicating that the company has a relatively conservative approach to debt financing. Further analysis of the company's debt structure and overall financial health would be necessary to fully assess the implications of this trend.