Enpro Industries (NPO)
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 | 638,700 | 775,100 | 963,900 | 487,500 | 625,200 |
| Total assets | US$ in thousands | 2,499,500 | 2,647,800 | 2,974,600 | 2,083,600 | 2,035,100 |
| Debt-to-assets ratio | 0.26 | 0.29 | 0.32 | 0.23 | 0.31 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $638,700K ÷ $2,499,500K
= 0.26
The debt-to-assets ratio of Enpro Inc has shown some fluctuation over the past five years. In 2023, the ratio decreased to 0.26 from 0.30 in 2022, indicating that the company had lower levels of debt relative to its total assets. This decrease suggests a potentially improved financial position in terms of leverage and risk.
Comparing to 2021 when the ratio was at 0.38, the 2023 ratio of 0.26 signifies a significant reduction in the proportion of debt relative to total assets. This may indicate that Enpro Inc has been able to effectively manage its debt levels or increase its asset base.
Furthermore, in 2020 and 2019, the debt-to-assets ratio was lower at 0.24 and 0.31 respectively compared to 2023. This suggests that Enpro Inc had higher levels of debt relative to its total assets in those years.
Overall, the decreasing trend in the debt-to-assets ratio from 2021 to 2023 reflects potential improvements in Enpro Inc's financial health and risk management, showing a reduced reliance on debt financing compared to previous years.