Ormat Technologies Inc (ORA)

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	—	—	—	—	—	—	—	—	—	296,382	975,973	1,005,160	1,377,210	1,375,370	1,106,930	995,959	1,011,930	1,030,940	1,116,420	1,111,700
Total assets	US$ in thousands	5,208,280	5,010,810	5,010,640	5,015,270	4,611,580	4,524,530	4,541,980	4,414,190	4,425,680	4,359,370	3,818,550	3,859,210	3,888,990	3,520,950	3,418,380	3,445,610	3,250,490	3,259,490	3,193,780	3,143,210
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.07	0.26	0.26	0.35	0.39	0.32	0.29	0.31	0.32	0.35	0.35

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $5,208,280K
= 0.00

The debt-to-assets ratio of Ormat Technologies Inc has shown some fluctuations over the past eight quarters, ranging from 0.39 to 0.45. Generally, a lower debt-to-assets ratio indicates a lower level of financial risk as it suggests that the company relies less on debt to finance its operations compared to its total assets.

In the most recent quarter, Q4 2023, the debt-to-assets ratio decreased to 0.40 from 0.42 in the previous quarter, Q3 2023. This slight decrease indicates that the company may have reduced its level of debt relative to its total assets.

Over the past two years, there seems to be a downward trend in the debt-to-assets ratio from 0.45 in Q2 2022 to 0.40 in Q4 2023. This trend suggests that Ormat Technologies Inc has been managing its debt levels effectively and strengthening its financial position by reducing its reliance on debt financing.

Overall, a decreasing trend in the debt-to-assets ratio indicates improved financial health and stability for Ormat Technologies Inc, as the company appears to be becoming less leveraged over time.