National HealthCare Corporation (NHC)
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 | — | — | — | — | 0 |
| Total assets | US$ in thousands | 1,310,800 | 1,275,450 | 1,403,400 | 1,362,130 | 1,286,650 |
| 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 ÷ $1,310,800K
= 0.00
The debt-to-assets ratio of National Healthcare Corp. has shown a consistent decline over the past five years. The ratio was 0.02 in 2019, and it gradually decreased to 0.01 by the end of 2021. However, the ratio dropped to 0.00 in 2022 and remained at 0.00 in 2023, indicating that the company has either significantly reduced its debt levels or increased its asset base during these years.
A debt-to-assets ratio of 0.00 implies that the company has no debt relative to its total assets. This could signify a strong financial position, as the company is not relying on debt to finance its operations or investments. It may also indicate that the company is efficiently utilizing its assets to generate revenue without taking on additional debt.
Overall, the trend of decreasing debt-to-assets ratio is a positive signal for National Healthcare Corp., suggesting a prudent financial management strategy and potentially reducing the financial risks associated with high levels of debt.
Peer comparison
Dec 31, 2023