Progress Software Corporation (PRGS)

Debt-to-assets ratio

		Nov 30, 2024	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020
Long-term debt	US$ in thousands	1,526,270	710,883	611,845	534,527	364,260
Total assets	US$ in thousands	2,526,970	1,602,780	1,411,480	1,363,540	1,041,780
Debt-to-assets ratio		0.60	0.44	0.43	0.39	0.35

November 30, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,526,270K ÷ $2,526,970K
= 0.60

The debt-to-assets ratio for Progress Software Corporation has been gradually increasing over the past five years, indicating an upward trend in the proportion of debt to total assets. As of November 30, 2020, the ratio stood at 0.35 and has since risen to 0.60 as of November 30, 2024. This suggests that the company has been relying more on debt financing relative to its total assets over the period under review. It is important for stakeholders to monitor this ratio closely as a higher debt-to-assets ratio may indicate increased financial risk and potential challenges in meeting debt obligations in the future.