Plexus Corp (PLXS)

Debt-to-assets ratio

		Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Long-term debt	US$ in thousands	374,300	401,600	217,100	299,300	252,300
Total assets	US$ in thousands	3,321,170	3,393,220	2,461,890	2,289,850	2,000,880
Debt-to-assets ratio		0.11	0.12	0.09	0.13	0.13

September 30, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $374,300K ÷ $3,321,170K
= 0.11

The debt-to-assets ratio for Plexus Corp. has fluctuated over the past five years. As of Sep 30, 2023, the ratio stands at 0.13, indicating that 13% of the company's assets are financed by debt. This represents a slight decrease from the previous year's ratio of 0.14. Comparing this to the ratio from two years ago, which was 0.10, the company appears to have slightly increased its reliance on debt financing. However, this ratio remains relatively low, suggesting a conservative approach to leveraging debt to fund its asset base. Overall, the trend in the debt-to-assets ratio indicates a stable and manageable level of debt relative to the company's asset base.