NeoGenomics Inc (NEO)
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 | 538,198 | 535,322 | 532,483 | 168,120 | 91,829 |
| Total assets | US$ in thousands | 1,681,230 | 1,740,030 | 1,869,780 | 988,331 | 709,506 |
| Debt-to-assets ratio | 0.32 | 0.31 | 0.28 | 0.17 | 0.13 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $538,198K ÷ $1,681,230K
= 0.32
The debt-to-assets ratio of Neogenomics Inc. has shown an increasing trend over the past five years. In 2019, the ratio was at 0.15, indicating that for every dollar of assets, the company had $0.15 of debt. This ratio increased to 0.17 in 2020, 0.29 in 2021, 0.31 in 2022, and further to 0.32 in 2023.
The increasing trend in the debt-to-assets ratio suggests that Neogenomics Inc. has been taking on more debt relative to its total assets over the years. This could indicate a higher level of financial leverage and potential risk, as the company is relying more on debt financing to support its operations and growth.
It is essential for investors and stakeholders to monitor this ratio closely, as a higher debt-to-assets ratio may indicate a higher risk of default in the future if the company becomes unable to meet its debt obligations. Additionally, a high debt-to-assets ratio could impact the company's credit rating and ability to access additional financing at favorable terms.