Nabors Industries Ltd (NBR)
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 | 2,511,520 | 2,537,540 | 3,262,800 | 2,968,700 | 3,333,220 |
| Total assets | US$ in thousands | 5,277,960 | 4,729,850 | 5,525,360 | 5,503,430 | 6,760,660 |
| Debt-to-assets ratio | 0.48 | 0.54 | 0.59 | 0.54 | 0.49 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,511,520K ÷ $5,277,960K
= 0.48
The debt-to-assets ratio of Nabors Industries Ltd has shown a fluctuating trend in recent years. In 2019, the ratio stood at 0.49, indicating that the company financed 49% of its assets using debt. Subsequently, there was a gradual increase in the ratio to 0.59 in 2021, suggesting that the company increased its debt levels relative to its assets during that period.
However, in 2022, there was a slight decrease in the ratio to 0.54, signaling a reduction in the proportion of assets financed by debt compared to the previous year. This trend continued in 2023, with the ratio dropping to 0.60, further lowering the reliance on debt for asset financing.
Overall, the debt-to-assets ratio of Nabors Industries Ltd has fluctuated within a range, indicating varying levels of debt utilization to fund its assets over the past five years. This trend suggests that the company has been adjusting its debt levels in relation to its assets, potentially reflecting its strategic financial management decisions or changes in its capital structure.
Peer comparison
Dec 31, 2023