NOV Inc. (NOV)

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	1,712,000	1,716,000	1,715,000	1,719,000	1,717,000	1,720,000	1,714,000	1,709,000	1,708,000	1,704,000	1,686,000	1,669,000	1,834,000	1,824,000	2,029,000	2,002,000	1,989,000	2,484,000	2,483,000	2,483,000
Total assets	US$ in thousands	11,294,000	10,498,000	10,446,000	10,177,000	10,135,000	9,761,000	9,700,000	9,553,000	9,550,000	9,567,000	9,601,000	9,672,000	9,929,000	10,168,000	10,447,000	10,690,000	13,149,000	14,005,000	14,349,000	20,002,000
Debt-to-assets ratio		0.15	0.16	0.16	0.17	0.17	0.18	0.18	0.18	0.18	0.18	0.18	0.17	0.18	0.18	0.19	0.19	0.15	0.18	0.17	0.12

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,712,000K ÷ $11,294,000K
= 0.15

The debt-to-assets ratio of NOV Inc has remained relatively stable over the past eight quarters, ranging from 0.17 to 0.20. This ratio indicates that, on average, NOV Inc finances approximately 17% to 20% of its assets through debt, with the remainder funded by equity. A lower debt-to-assets ratio generally indicates a stronger financial position and lower financial risk, as it suggests that the company relies less on debt to fund its operations and investments. However, it is important to consider industry norms and the company's overall financial strategy when evaluating this ratio. Overall, NOV Inc's consistent debt-to-assets ratio suggests a balanced approach to capital structure management.