RPC Inc (RES)
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 | 1,286,840 | 1,129,010 | 864,365 | 790,505 | 1,053,220 |
| 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 ÷ $1,286,840K
= 0.00
RPC, Inc., a company engaged in providing specialized oilfield services, exhibited a consistent trend of maintaining a low debt-to-assets ratio in the years 2019, 2020, 2022, and 2023, where the ratio remained at 0.00. This indicates that the company has been effectively managing its debt levels relative to its total assets, suggesting a lower financial risk and a strong financial position.
In 2021, there was a slight increase in the debt-to-assets ratio to 0.02, signaling a marginal shift in the company's capital structure towards a slightly higher reliance on debt financing compared to the other years analyzed. Despite this increase, the ratio remained relatively low, implying that RPC, Inc. continued to maintain a conservative approach to debt management during that period.
Overall, the consistent low debt-to-assets ratios suggest that RPC, Inc. has been prudent in its financial management, potentially reducing its exposure to financial distress and demonstrating stability in meeting its financial obligations through a significant portion of equity financing.
Peer comparison
Dec 31, 2023