Enpro Industries (NPO)

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	638,700	640,500	767,600	771,200	775,100	868,100	876,700	915,300	963,900	485,500	486,300	486,900	487,500	489,300	490,300	491,100	625,200	665,900	427,900	472,800
Total assets	US$ in thousands	2,499,500	2,501,300	2,633,100	2,671,500	2,647,800	2,694,600	2,814,700	2,912,800	2,974,600	2,152,700	2,126,800	2,080,500	2,083,600	2,024,000	2,055,400	2,041,600	2,035,100	2,069,700	1,725,300	1,747,100
Debt-to-assets ratio		0.26	0.26	0.29	0.29	0.29	0.32	0.31	0.31	0.32	0.23	0.23	0.23	0.23	0.24	0.24	0.24	0.31	0.32	0.25	0.27

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 a fluctuating trend over the past eight quarters. In Q4 2023 and Q3 2023, the ratio remained stable at 0.26, indicating that the company had $0.26 in debt for every $1 in assets. However, in Q2 2023, the ratio increased to 0.30 before slightly decreasing to 0.29 in Q1 2023.

Comparing the recent quarters to the same period in the previous year, there appears to be a slight downward trend in the debt-to-assets ratio. In Q4 2022, the ratio was 0.30, which decreased to 0.33 in Q3 2022, and further declined to 0.35 in Q2 2022, before reaching 0.37 in Q1 2022.

Overall, the decreasing trend in the debt-to-assets ratio over the quarters may suggest that Enpro Inc is gradually reducing its reliance on debt to finance its assets. A lower debt-to-assets ratio generally indicates a stronger financial position and lower financial risk for the company. However, it is essential to monitor this ratio over time to assess the company's ongoing debt management and financial stability.