Impinj Inc (PI)
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 | 281,855 | 280,244 | 278,661 | 54,556 | 50,876 |
| Total assets | US$ in thousands | 359,409 | 349,737 | 315,537 | 207,616 | 215,046 |
| Debt-to-assets ratio | 0.78 | 0.80 | 0.88 | 0.26 | 0.24 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $281,855K ÷ $359,409K
= 0.78
The debt-to-assets ratio of Impinj Inc has shown a fluctuating trend over the past five years. In 2023, the ratio decreased to 0.78 from 0.80 in 2022, indicating that the company relied less on debt financing relative to its total assets. However, compared to 2021 and prior years, the current ratio is still relatively high.
In 2021 and 2022, the debt-to-assets ratio was notably higher at 0.88 and 0.80 respectively, suggesting a higher proportion of debt used to finance the company's assets during those years. This could indicate a more aggressive leveraging strategy or higher debt levels within the company.
On the other hand, in 2020 and 2019, the ratio was significantly lower at 0.26 and 0.24 respectively, showcasing a lower reliance on debt financing relative to total assets during those periods.
Overall, the decreasing trend in the debt-to-assets ratio from 2021 to 2023 implies a potential shift towards a more conservative financial structure with decreased reliance on debt. However, it is essential to further evaluate the company's overall financial health and its ability to manage debt obligations effectively in conjunction with considering other financial metrics and industry benchmarks.
Peer comparison
Dec 31, 2023