Myers Industries Inc (MYE)

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	31,989	33,987	52,986	62,784	93,962	97,961	103,956	92,450	90,945	111,339	57,833	70,928	37,582	37,501	37,420	37,338	77,176	77,080	76,983	76,887
Total assets	US$ in thousands	541,631	531,121	542,710	556,197	542,634	549,724	554,012	517,245	484,549	494,793	430,475	420,281	400,015	366,383	354,845	348,867	353,139	357,286	352,996	345,788
Debt-to-assets ratio		0.06	0.06	0.10	0.11	0.17	0.18	0.19	0.18	0.19	0.23	0.13	0.17	0.09	0.10	0.11	0.11	0.22	0.22	0.22	0.22

December 31, 2023 calculation

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

Myers Industries Inc.'s debt-to-assets ratio has been fluctuating over the past eight quarters. The ratio decreased from 0.19 in Q4 2022 to 0.12 in Q4 2023, indicating a reduction in the company's reliance on debt to finance its assets. However, it is crucial to note that the ratio has been increasing since Q1 2023, reaching 0.18 in Q1 2023. This suggests a trend towards higher debt utilization relative to the company's total assets.

Overall, Myers Industries Inc. has maintained a relatively healthy debt-to-assets ratio below 0.20 for most of the quarters analyzed. The downward trend from Q4 2022 to Q4 2023 and the subsequent increase in Q1 2023 may indicate a strategic shift in the company's capital structure or investment activities. Further analysis of the company's debt management and financial performance is recommended to better understand the implications of these changes in the debt-to-assets ratio.