Ingevity Corp (NGVT)
Debt-to-assets ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | US$ in thousands | 2,623,300 | 2,766,800 | 2,828,300 | 2,772,200 | 2,736,500 | 2,335,400 | 2,366,000 | 2,455,800 | 2,469,000 | 2,426,200 | 2,389,000 | 2,342,500 | 2,334,500 | 2,258,200 | 2,195,500 | 2,353,300 | 2,141,700 | 2,118,800 | 2,129,500 | 2,107,200 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 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
Ingevity Corp's debt-to-assets ratio has shown a moderate upward trend over the past eight quarters, ranging from 0.49 to 0.56. The ratio stood at 0.53 and 0.54 in Q3 and Q2 2023, respectively, before slightly increasing to 0.56 in Q4 2023. This indicates that, on average, Ingevity Corp finances approximately 54-56% of its total assets through debt.
Although the ratio has fluctuated slightly, it has generally remained within a stable range, suggesting a consistent level of leverage. A higher debt-to-assets ratio typically indicates higher financial risk, as more of the company's assets are financed by debt. Ingevity Corp's ratio indicates a moderate level of leverage, which may be considered acceptable depending on industry norms and the company's overall financial health.
It is important for stakeholders to continue monitoring this ratio over time to assess any significant shifts in the company's capital structure and financial risk.
Peer comparison
Dec 31, 2023