ON Semiconductor Corporation (ON)

Debt-to-assets ratio

		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	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	2,542,600	2,541,100	2,539,600	2,538,000	3,045,700	3,046,500	3,047,400	3,035,400	2,913,900	2,910,500	2,907,100	2,806,900	2,959,700	3,537,600	4,044,800	4,043,000	2,876,500	2,878,800	3,550,800	2,639,000
Total assets	US$ in thousands	13,215,200	13,281,300	12,762,700	12,274,300	11,978,500	11,100,700	10,788,700	10,212,400	9,626,000	8,940,700	8,594,400	8,630,400	8,668,000	9,254,000	9,527,800	9,420,800	8,425,500	8,522,300	8,524,500	7,564,300
Debt-to-assets ratio		0.19	0.19	0.20	0.21	0.25	0.27	0.28	0.30	0.30	0.33	0.34	0.33	0.34	0.38	0.42	0.43	0.34	0.34	0.42	0.35

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,542,600K ÷ $13,215,200K
= 0.19

The debt-to-assets ratio for ON Semiconductor Corp. has been relatively stable over the past eight quarters, ranging from 0.25 to 0.31. This ratio measures the proportion of the company's total debt to its total assets, indicating the level of financial leverage. A lower ratio suggests that ON Semiconductor Corp. relies less on debt financing to fund its operations and investments, which can be seen as a positive indicator of financial health. However, the slight upward trend in the ratio over the quarters may indicate a gradual increase in debt relative to assets, potentially signaling an increased financial risk. Further analysis of the company's overall debt levels and asset utilization may provide deeper insights into its financial stability and investment potential.