NV5 Global Inc (NVEE)
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 | — | — | — | 283,326 | 332,854 |
| Total assets | US$ in thousands | 1,170,590 | 935,723 | 961,943 | 881,175 | 893,137 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.32 | 0.37 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $1,170,590K
= 0.00
The debt-to-assets ratio of NV5 Global Inc has shown a consistent downward trend over the past five years, decreasing from 0.37 in 2019 to 0.32 in 2020, and further declining to 0.00 in the subsequent years. This signifies that the company has been effectively reducing its reliance on debt to finance its assets, moving towards a more conservative capital structure. A debt-to-assets ratio of 0.00 indicates that NV5 Global Inc has no debt in relation to its assets, reflecting a strong financial position with lower risk of default. Overall, the decreasing trend in the debt-to-assets ratio demonstrates the company's prudent financial management and improved solvency position in recent years.
Peer comparison
Dec 31, 2023