Nucor Corp (NUE)
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 | — | — | — | — | — |
| Total assets | US$ in thousands | 35,340,500 | 32,479,200 | 25,823,100 | 20,125,400 | 18,344,700 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $35,340,500K
= 0.00
The debt-to-assets ratio of Nucor Corp. has shown a generally decreasing trend over the past five years. In 2023, the ratio decreased to 0.19 from 0.21 in 2022, indicating that the company relied less on debt to finance its assets compared to the previous year. This could suggest that Nucor Corp. has been effectively managing its debt levels relative to its total assets, which may be viewed positively by investors and creditors.
Moreover, the decreasing trend in the debt-to-assets ratio from 0.27 in 2020 to 0.19 in 2023 reflects a potential improvement in the company's financial health and risk management. A lower debt-to-assets ratio typically indicates a stronger financial position and lower risk of insolvency, as the company is less reliant on debt financing.
Overall, the decreasing debt-to-assets ratio of Nucor Corp. over the past five years suggests a prudent approach to capital structure management and a strengthening financial position, which could enhance the company's ability to weather economic uncertainties and pursue growth opportunities in the future.
Peer comparison
Dec 31, 2023