Photronics Inc (PLAB)

Debt-to-assets ratio

		Oct 31, 2023	Oct 31, 2022	Oct 31, 2021	Oct 31, 2020	Oct 31, 2019
Long-term debt	US$ in thousands	—	32,310	89,446	54,980	41,887
Total assets	US$ in thousands	1,526,220	1,315,830	1,294,200	1,188,180	1,118,660
Debt-to-assets ratio		0.00	0.02	0.07	0.05	0.04

October 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $1,526,220K
= 0.00

The debt-to-assets ratio of Photronics, Inc. has shown a fluctuating trend over the last five years. In 2023, the ratio decreased to 0.02 from 0.03 in 2022, indicating an improvement in the company's ability to meet its long-term obligations using its assets. This suggests a relatively low level of financial leverage and a solid financial position. In 2021, the ratio increased to 0.09 from 0.06 in 2020, signifying a higher proportion of debt relative to assets, which may indicate increased financial risk. However, the ratio remained relatively stable in 2019 at 0.05. Overall, the decreasing trend in the debt-to-assets ratio suggests an efficient management of debt and a prudent use of assets to support the company's financial obligations.