NOV Inc. (NOV)
Debt-to-assets ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total assets | US$ in thousands | 11,361,000 | 11,294,000 | 10,135,000 | 9,550,000 | 9,929,000 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $11,361,000K
= 0.00
The debt-to-assets ratio for NOV Inc. remained consistent at 0.00 from December 31, 2020, to December 31, 2024. A debt-to-assets ratio of 0.00 indicates that the company has no debt on its balance sheet relative to its total assets during these years. This suggests that NOV Inc. has been primarily financing its operations using equity rather than debt, which can be perceived positively as it indicates lower financial risk and greater financial stability. However, it's important to note that a very low debt-to-assets ratio may also indicate underutilization of debt financing and potential missed opportunities for leveraging the business. Further analysis of the company's capital structure and financial strategy would be beneficial to fully understand the implications of this consistent ratio over the years.
Peer comparison
Dec 31, 2024