O-I Glass Inc (OI)
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 | 4,698,000 | 4,371,000 | 4,753,000 | 4,945,000 | 5,435,000 |
| Total assets | US$ in thousands | 9,669,000 | 9,061,000 | 8,832,000 | 8,882,000 | 9,610,000 |
| Debt-to-assets ratio | 0.49 | 0.48 | 0.54 | 0.56 | 0.57 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $4,698,000K ÷ $9,669,000K
= 0.49
O-I Glass Inc's debt-to-assets ratio has shown a slight decrease from 0.57 in 2019 to 0.49 in 2023. This indicates that the company's level of debt in relation to its total assets has improved over the years. A lower debt-to-assets ratio suggests that the company relies less on debt financing and has a stronger financial position in terms of its asset base. However, it's important to note that the ratio fluctuated over the years, with a peak of 0.57 in 2019 and a subsequent decline since then. This trend may indicate varying levels of debt management strategies or changes in the company's capital structure over time. Overall, a decreasing trend in the debt-to-assets ratio is generally considered positive as it signifies improved financial strength and lower financial risk for the company.