Nordson Corporation (NDSN)
Debt-to-assets ratio
| Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,513,870 | 1,621,390 | 727,455 | 345,899 | 595,166 | 345,320 | 401,698 | 479,703 | 773,191 | 781,709 | 789,731 | 829,044 | 981,284 | 1,067,950 | 1,221,080 | 1,237,220 | 1,074,310 | 1,075,400 | 1,179,870 | 1,220,390 |
| Total assets | US$ in thousands | 5,247,080 | 5,251,770 | 4,197,030 | 4,193,120 | 4,237,420 | 3,820,380 | 3,823,820 | 3,796,340 | 3,834,990 | 3,790,960 | 3,670,080 | 3,594,910 | 3,683,400 | 3,674,660 | 3,819,960 | 3,742,900 | 3,550,870 | 3,516,450 | 3,491,540 | 3,475,090 |
| Debt-to-assets ratio | 0.29 | 0.31 | 0.17 | 0.08 | 0.14 | 0.09 | 0.11 | 0.13 | 0.20 | 0.21 | 0.22 | 0.23 | 0.27 | 0.29 | 0.32 | 0.33 | 0.30 | 0.31 | 0.34 | 0.35 |
January 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,513,870K ÷ $5,247,080K
= 0.29
The debt-to-assets ratio for Nordson Corp. has shown some fluctuations over the past eight quarters, ranging from 0.20 to 0.33. In Q1 2024, the ratio stood at 0.31, indicating that 31% of the company's assets are funded by debt. This was a slight decrease from Q4 2023 when the ratio was 0.33.
The trend over the past two years reveals that Nordson Corp. has generally maintained a moderate level of debt compared to its total assets, with the ratio hovering around the low to mid-20% range. This suggests that the company relies more on equity financing rather than debt to support its operations and investments.
Overall, a lower debt-to-assets ratio indicates a lower level of financial risk for the company, as it implies that a significant portion of Nordson Corp.'s assets are financed through equity rather than debt. Investors and creditors may view this positively as it shows a stable financial structure and the ability to meet financial obligations.
Peer comparison
Jan 31, 2024