Minerals Technologies Inc (MTX)
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 | 911,100 | 928,100 | 936,200 | 933,200 | 824,300 |
| Total assets | US$ in thousands | 3,346,600 | 3,401,600 | 3,374,200 | 3,209,400 | 3,112,600 |
| Debt-to-assets ratio | 0.27 | 0.27 | 0.28 | 0.29 | 0.26 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $911,100K ÷ $3,346,600K
= 0.27
The debt-to-assets ratio of Minerals Technologies, Inc. has shown consistency over the past five years, ranging between 0.29 and 0.31. This ratio indicates that, on average, around 30% of the company's assets are being financed through debt, while the remaining 70% is funded by equity. A ratio of around 0.30 suggests that the company has a moderate level of debt in relation to its total assets, which could be considered a healthy balance. It is important to note that this ratio can vary significantly depending on the industry and the company's specific circumstances. Overall, the stability of the debt-to-assets ratio for Minerals Technologies, Inc. indicates a consistent approach to managing its debt levels relative to its asset base.
Peer comparison
Dec 31, 2023