Novanta Inc (NOVT)
Debt-to-assets ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 411,949 | 452,502 | 477,113 | 508,858 | 349,404 | 347,879 | 403,586 | 418,535 | 430,662 | 438,447 | 402,679 | 412,521 | 429,361 | 441,831 | 186,866 | 186,145 | 194,927 | 188,089 | 211,946 | 206,752 |
| Total assets | US$ in thousands | 1,388,510 | 1,418,820 | 1,398,570 | 1,410,590 | 1,226,060 | 1,194,280 | 1,232,720 | 1,225,820 | 1,241,210 | 1,207,530 | 1,205,840 | 1,206,160 | 1,227,880 | 1,210,240 | 877,945 | 852,254 | 865,179 | 857,534 | 861,027 | 841,968 |
| Debt-to-assets ratio | 0.30 | 0.32 | 0.34 | 0.36 | 0.28 | 0.29 | 0.33 | 0.34 | 0.35 | 0.36 | 0.33 | 0.34 | 0.35 | 0.37 | 0.21 | 0.22 | 0.23 | 0.22 | 0.25 | 0.25 |
December 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $411,949K ÷ $1,388,510K
= 0.30
Novanta Inc's debt-to-assets ratio has shown some fluctuations over the periods indicated, ranging from 0.21 to 0.37. The ratio measures the proportion of the company's total debt to its total assets, reflecting the percentage of assets financed by debt.
From March 2020 to December 2023, the ratio generally decreased, indicating a decreasing reliance on debt to finance assets. However, in the periods from September 2023 to March 2024, there was a slight increase in the ratio, suggesting a potential increase in debt relative to assets during that time.
Overall, Novanta Inc's debt-to-assets ratio has displayed some variability but has generally remained within a moderate range, indicating a balanced capital structure with a manageable level of debt relative to its assets. The company's ability to maintain this ratio within a reasonable range demonstrates prudent financial management and a conservative approach to leveraging debt in its operations.
Peer comparison
Dec 31, 2024