Qorvo Inc (QRVO)

Debt-to-assets ratio

		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	Sep 30, 2019	Jun 30, 2019
Long-term debt	US$ in thousands	—	1,550,440	2,048,580	2,048,260	2,048,070	2,047,740	2,047,400	2,047,180	2,047,100	—	—	—	—	—	—	—	—	—	—	—
Total assets	US$ in thousands	6,554,640	6,699,390	6,718,520	6,686,590	6,691,900	7,076,220	7,374,730	7,330,520	7,509,070	7,626,580	7,576,460	7,271,860	7,221,470	7,041,380	7,824,420	6,882,690	6,560,680	6,519,500	5,848,570	5,926,380
Debt-to-assets ratio		0.00	0.23	0.30	0.31	0.31	0.29	0.28	0.28	0.27	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

March 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $6,554,640K
= 0.00

The debt-to-assets ratio of Qorvo Inc has shown some fluctuations over the analyzed period. The ratio was relatively stable at around 0.29 to 0.31 from March 2023 to December 2023, indicating that the company had a moderate level of debt relative to its total assets during this time. However, there was a notable decrease in the ratio to 0.23 as of December 31, 2023. Subsequently, the ratio fluctuated between 0.27 and 0.28 from March 2022 to September 2022, showing a slight decrease in debt utilization.

Of particular interest is the significant improvement in the debt-to-assets ratio in the most recent quarter, ending on March 31, 2024, where the ratio dropped to 0.00. This sudden drop suggests that the company significantly reduced its level of debt or increased its asset base, resulting in a healthier financial position with little or no debt relative to its total assets.

The data for the earlier periods, from December 2021 to March 2023, show a debt-to-assets ratio of 0.31 consistently, which indicates a stable but relatively higher level of debt utilization during that time.

Overall, the trend in the debt-to-assets ratio of Qorvo Inc indicates fluctuations over time, with periods of relatively higher debt utilization followed by improvements in debt management leading to lower debt-to-assets ratios. This can be interpreted as the company actively managing its debt levels and financial structure to ensure a balanced and healthy capital structure.