N-Able Inc (NABL)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-term debt	US$ in thousands	331,509	333,488	335,379
Total assets	US$ in thousands	1,162,790	1,078,860	1,055,700
Debt-to-assets ratio		0.29	0.31	0.32

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $331,509K ÷ $1,162,790K
= 0.29

The trend of N-Able Inc's debt-to-assets ratio over the past three years shows a decreasing pattern, indicating a lower proportion of debt relative to total assets. This indicates that the company has been relying less on debt financing in comparison to its total assets. A debt-to-assets ratio of 0.29 at the end of 2023 reflects that for every dollar of assets, the company has $0.29 of debt. This suggests a healthier financial position with a lower risk of insolvency. Overall, the decreasing trend in the debt-to-assets ratio demonstrates N-Able Inc's improving ability to finance its operations and investments through equity and retained earnings rather than debt.