nVent Electric PLC (NVT)
Debt-to-assets ratio
| 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 | Dec 31, 2019 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,730,600 | 1,739,800 | 1,748,800 | 1,861,500 | 1,968,800 | 1,079,600 | 1,068,200 | 1,086,700 | 1,048,200 | 1,045,800 | 994,200 | 976,500 | 1,103,900 | 943,200 | 928,000 | 1,052,800 | 1,207,600 | 1,211,200 | 1,047,100 | 1,150,600 |
| Total assets | US$ in thousands | 6,188,100 | 6,169,700 | 6,161,700 | 5,925,700 | 5,922,100 | 4,916,400 | 4,902,200 | 4,875,900 | 4,765,600 | 4,703,600 | 4,674,200 | 4,678,900 | 4,709,800 | 4,398,000 | 4,366,100 | 4,410,600 | 4,712,400 | 4,730,200 | 4,640,300 | 4,636,100 |
| Debt-to-assets ratio | 0.28 | 0.28 | 0.28 | 0.31 | 0.33 | 0.22 | 0.22 | 0.22 | 0.22 | 0.22 | 0.21 | 0.21 | 0.23 | 0.21 | 0.21 | 0.24 | 0.26 | 0.26 | 0.23 | 0.25 |
June 30, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,730,600K ÷ $6,188,100K
= 0.28
The debt-to-assets ratio of nVent Electric PLC has shown some fluctuations over the past few quarters. The ratio has been relatively stable around the range of 0.22 to 0.28, indicating that the company has been maintaining a moderate level of debt in relation to its total assets.
In the latest quarter, as of June 30, 2024, the debt-to-assets ratio stands at 0.28, which is consistent with the ratios observed in the previous quarters of 2024. This suggests that the company's debt level relative to its total assets has remained fairly consistent in the near term.
Looking further back, the ratio was slightly higher in some quarters of 2023, reaching 0.33 in the third quarter of that year. However, it then decreased and remained at lower levels in subsequent quarters.
Overall, the trend in the debt-to-assets ratio indicates that nVent Electric PLC has managed its debt levels reasonably well, with a focus on maintaining a balanced capital structure. Investors and stakeholders may view this as a positive sign of financial prudence and stability within the company.
Peer comparison
Jun 30, 2024