Novanta Inc (NOVT)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 745,698 | 742,195 | 701,992 | 681,715 | 673,460 | 644,856 | 626,030 | 598,017 | 577,586 | 542,202 | 532,169 | 534,693 | 521,291 | 500,113 | 493,064 | 476,123 | 476,809 | 451,249 | 431,898 | 413,103 |
| Debt-to-capital ratio | 0.36 | 0.38 | 0.40 | 0.43 | 0.34 | 0.35 | 0.39 | 0.41 | 0.43 | 0.45 | 0.43 | 0.44 | 0.45 | 0.47 | 0.27 | 0.28 | 0.29 | 0.29 | 0.33 | 0.33 |
December 31, 2024 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $411,949K ÷ ($411,949K + $745,698K)
= 0.36
The debt-to-capital ratio of Novanta Inc has shown some fluctuations over the past few years. It gradually decreased from 0.33 as of March 31, 2020, to 0.27 as of June 30, 2021, indicating a decreasing reliance on debt compared to the company's total capital. However, there was a notable increase in the ratio to 0.47 as of September 30, 2021, which could suggest a higher level of debt relative to total capital during that period.
Subsequently, the ratio decreased to 0.34 as of December 31, 2023, before rising again to 0.40 as of June 30, 2024. This fluctuation indicates some variability in Novanta Inc's debt management and capital structure during this period. Investors and stakeholders may want to further investigate the reasons behind these fluctuations to assess the company's financial health and risk management strategies.
Peer comparison
Dec 31, 2024