Photronics Inc (PLAB)

Debt-to-assets ratio

		Jan 28, 2024	Oct 31, 2023	Jul 30, 2023	Apr 30, 2023	Jan 29, 2023	Oct 31, 2022	Jul 31, 2022	May 1, 2022	Jan 30, 2022	Oct 31, 2021	Aug 1, 2021	May 2, 2021	Jan 31, 2021	Oct 31, 2020	Aug 2, 2020	May 3, 2020	Feb 2, 2020	Oct 31, 2019	Jul 28, 2019	Apr 28, 2019
Long-term debt	US$ in thousands	—	—	20,121	21,322	27,323	32,310	46,589	70,138	78,540	89,446	92,740	88,444	79,984	54,980	38,183	35,783	36,449	41,887	43,015	35,921
Total assets	US$ in thousands	1,582,840	1,526,220	1,503,340	1,451,020	1,441,680	1,315,830	1,349,600	1,331,890	1,335,250	1,294,200	1,281,760	1,265,990	1,232,060	1,188,180	1,195,840	1,133,890	1,125,460	1,118,660	1,114,200	1,085,240
Debt-to-assets ratio		0.00	0.00	0.01	0.01	0.02	0.02	0.03	0.05	0.06	0.07	0.07	0.07	0.06	0.05	0.03	0.03	0.03	0.04	0.04	0.03

January 28, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $1,582,840K
= 0.00

The debt-to-assets ratio of Photronics, Inc. has exhibited a declining trend over the past several quarters, indicating a lower level of financial leverage and risk for the company. In Q1 2024, the ratio stands at 0.01, the lowest point in the provided data series. This suggests that Photronics has a minimal level of debt relative to its total assets, highlighting a strong financial position and solvency. The decreasing trend in the ratio signals that the company has been effectively managing its debt levels, reducing the proportion of debt in its capital structure compared to its total assets. This improvement may enhance the company's ability to withstand financial challenges and uncertainty, as it relies less on borrowed funds to support its operations and investments. Overall, the declining debt-to-assets ratio for Photronics, Inc. reflects a positive financial performance and prudent debt management strategy.