Ingevity Corp (NGVT)
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 | — | — | — | — | — |
| Total assets | US$ in thousands | 2,623,300 | 2,736,500 | 2,469,000 | 2,334,500 | 2,141,700 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $2,623,300K
= 0.00
The debt-to-assets ratio of Ingevity Corp has shown some fluctuations over the past five years. In 2023, the ratio increased to 0.56 from the previous year's 0.54. This suggests that the company's proportion of debt relative to its total assets has increased slightly. It is important to note that a higher debt-to-assets ratio may indicate higher financial risk, as it implies a greater reliance on debt to finance its operations and investments.
Comparing to previous years, the ratio was at its lowest in 2021 at 0.51, indicating a lower level of debt relative to assets at that time. However, in 2020 and 2019, the ratio was higher at 0.55 and 0.58, respectively, signaling higher levels of debt compared to assets in those years.
Overall, the trend in Ingevity Corp's debt-to-assets ratio suggests some variability but generally indicates a moderate level of debt financing in relation to its total assets. It would be essential for stakeholders to monitor this ratio over time to assess the company's financial leverage and risk management strategies.
Peer comparison
Dec 31, 2023