Myers Industries Inc (MYE)

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	31,989	93,962	90,945	37,582	77,176
Total assets	US$ in thousands	541,631	542,634	484,549	400,015	353,139
Debt-to-assets ratio		0.06	0.17	0.19	0.09	0.22

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $31,989K ÷ $541,631K
= 0.06

The debt-to-assets ratio of Myers Industries Inc. has shown a declining trend over the past five years, dropping from 0.22 in 2019 to 0.12 in 2023. This indicates that the company's level of debt in relation to its total assets has decreased over the period, suggesting improved financial health and a lower reliance on debt financing. A lower debt-to-assets ratio typically signifies that the company has a stronger ability to cover its debt obligations and is less risky for creditors. The consistent decrease in the ratio over the years may reflect better management of the company's liabilities and a more efficient utilization of its assets to generate revenue. Overall, the declining trend in Myers Industries' debt-to-assets ratio is a positive indication of the company's financial stability and efficiency in managing its debt levels.