Perrigo Company PLC (PRGO)

Debt-to-assets ratio

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	4,312,600	3,616,800	3,624,900	3,632,800	4,048,500	4,055,900	4,062,800	4,070,400	4,077,500	4,086,100	3,510,600	2,916,700	2,920,900	2,925,800	3,525,300	3,527,600	3,543,600	3,536,000	3,182,900	3,365,800
Total assets	US$ in thousands	11,203,200	10,397,300	10,640,300	10,809,100	10,758,300	10,964,700	10,954,900	11,017,300	10,677,500	10,919,600	10,389,500	10,425,700	10,915,900	11,230,300	11,324,800	11,488,400	11,576,000	12,128,300	11,400,700	11,301,400
Debt-to-assets ratio		0.38	0.35	0.34	0.34	0.38	0.37	0.37	0.37	0.38	0.37	0.34	0.28	0.27	0.26	0.31	0.31	0.31	0.29	0.28	0.30

September 30, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $4,312,600K ÷ $11,203,200K
= 0.38

The debt-to-assets ratio of Perrigo Company PLC has been relatively stable over the past five years, ranging between 0.26 and 0.38. This ratio indicates the proportion of the company's assets that are financed by debt. A lower debt-to-assets ratio suggests a lower level of financial risk as the company relies less on debt to fund its operations.

Perrigo's debt-to-assets ratio has generally been below 0.40, indicating that a significant portion of its assets are financed by equity rather than debt. This can be seen as a positive indicator of financial stability and a healthy balance sheet structure.

The slight fluctuations in the ratio over the years may be attributed to changes in the company's capital structure, borrowing decisions, or asset base. Overall, the consistent trend of maintaining a debt-to-assets ratio below 0.40 reflects Perrigo's prudent approach to managing its financial leverage and maintaining a solid financial position.