Philip Morris International Inc (PM)
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 | — | — | — | — | — |
| Total assets | US$ in thousands | 65,304,000 | 61,681,000 | 41,290,000 | 44,815,000 | 42,875,000 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $65,304,000K
= 0.00
The debt-to-assets ratio of Philip Morris International Inc has been relatively stable over the past five years, ranging between 0.67 and 0.73. This ratio indicates that, on average, approximately 70-73% of the company's assets have been financed through debt during this period.
A higher debt-to-assets ratio suggests that the company relies more on debt to finance its operations and investments, which could potentially increase financial risk due to higher interest expenses and debt repayment obligations. On the other hand, a lower ratio indicates a stronger financial position with a higher proportion of assets being funded through equity.
Overall, Philip Morris International Inc's debt-to-assets ratio indicates a moderate level of leverage, which may be considered acceptable depending on the industry norms and the company's overall financial performance and ability to service its debt obligations.
Peer comparison
Dec 31, 2023