Minerals Technologies Inc (MTX)
Debt-to-assets ratio
| 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 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 911,100 | 918,000 | 921,200 | 924,700 | 928,100 | 944,900 | 939,300 | 937,000 | 936,200 | 935,300 | 934,400 | 933,600 | 933,200 | 1,012,300 | 647,700 | 824,900 | 824,300 | 844,700 | 874,200 | 893,400 |
| Total assets | US$ in thousands | 3,346,600 | 3,344,700 | 3,408,200 | 3,450,700 | 3,401,600 | 3,387,300 | 3,403,100 | 3,425,800 | 3,374,200 | 3,384,300 | 3,253,300 | 3,213,200 | 3,209,400 | 3,214,100 | 3,056,900 | 3,069,100 | 3,112,600 | 3,125,900 | 3,149,400 | 3,163,400 |
| Debt-to-assets ratio | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 | 0.28 | 0.28 | 0.27 | 0.28 | 0.28 | 0.29 | 0.29 | 0.29 | 0.31 | 0.21 | 0.27 | 0.26 | 0.27 | 0.28 | 0.28 |
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 remained relatively stable over the past eight quarters, ranging from 0.30 to 0.31. This indicates that, on average, the company finances approximately 30-31% of its assets through debt.
A debt-to-assets ratio of around 0.30-0.31 suggests that Minerals Technologies relies more on equity financing rather than debt to fund its operations and investments. This may indicate a conservative approach to capital structure, as the company is not heavily leveraged.
Overall, the consistent debt-to-assets ratio over the quarters implies a stable financial position in terms of the company's debt management and asset utilization. However, it is essential for stakeholders to continue monitoring this ratio along with other financial metrics to ensure the company's long-term financial health.
Peer comparison
Dec 31, 2023