Omnicell Inc (OMCL)
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 | 569,662 | 566,571 | — | 467,201 | 50,000 |
| Total assets | US$ in thousands | 2,226,880 | 2,210,760 | 2,142,500 | 1,824,500 | 1,240,810 |
| Debt-to-assets ratio | 0.26 | 0.26 | 0.00 | 0.26 | 0.04 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $569,662K ÷ $2,226,880K
= 0.26
Omnicell, Inc.'s debt-to-assets ratio has shown stability and consistency over the past five years, ranging between 0.04 and 0.26. This ratio indicates the proportion of the company's assets that are financed through debt. A lower ratio suggests lower financial risk as it signifies a smaller reliance on debt for funding operations and investments, while a higher ratio could indicate higher financial risk due to increased debt levels.
In 2023, the debt-to-assets ratio remained at 0.26, consistent with the levels seen in 2022 and 2020. This suggests that approximately 26% of Omnicell's assets are financed by debt. The slight increase from 2021's ratio of 0.23 may indicate a slightly higher use of debt in the company's capital structure. However, it is important to consider the absolute level of debt and assets when assessing the overall financial health and leverage of the company.
Overall, Omnicell, Inc.'s consistent debt-to-assets ratio over the past five years suggests a balanced approach to financing its operations. Further analysis of the company's debt maturity profile, interest coverage ratio, and overall financial health would provide a more comprehensive understanding of its leverage position.
Peer comparison
Dec 31, 2023