Photronics Inc (PLAB)
Debt-to-assets ratio
| Oct 31, 2024 | Oct 31, 2023 | Oct 31, 2022 | Oct 31, 2021 | Oct 31, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | 32,310 | 89,446 | 54,980 |
| Total assets | US$ in thousands | 1,712,060 | 1,526,220 | 1,315,830 | 1,294,200 | 1,188,180 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.02 | 0.07 | 0.05 |
October 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $1,712,060K
= 0.00
The debt-to-assets ratio for Photronics Inc has shown a declining trend over the past five years. As of October 31, 2024, the ratio stands at 0.00, indicating that the company has no debt relative to its total assets. This suggests a strong financial position with low leverage and minimal risk associated with debt obligations.
The sharp decrease in the debt-to-assets ratio from 0.07 in October 31, 2021, to 0.00 in October 31, 2024, signals a significant reduction in the company's debt levels compared to its total assets. This demonstrates a strategic shift towards a less leveraged capital structure, potentially reducing interest expenses and improving overall financial stability.
Overall, the declining trend in the debt-to-assets ratio for Photronics Inc reflects positively on the company's ability to manage its debt levels efficiently and prudently allocate resources to support its operations and growth strategies.
Peer comparison
Oct 31, 2024