Penumbra Inc (PEN)

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	—	—	—	—	—
Total assets	US$ in thousands	1,556,300	1,370,890	1,244,250	822,983	665,901
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $1,556,300K
= 0.00

The debt-to-assets ratio for Penumbra Inc has remained relatively stable over the past five years, ranging from 0.02 to 0.05. This ratio indicates that Penumbra relies very minimally on debt financing to fund its assets, with a larger proportion of its assets being funded through equity. A lower debt-to-assets ratio suggests a lower financial risk, as the company is not heavily leveraged. Overall, Penumbra's consistent low debt-to-assets ratio indicates a conservative financial strategy focused on maintaining a healthy balance between debt and equity in its capital structure.