RPC Inc (RES)
Debt-to-assets ratio
| 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 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | US$ in thousands | 1,286,840 | 1,247,370 | 1,228,190 | 1,187,830 | 1,129,010 | 1,055,580 | 965,079 | 891,168 | 864,365 | 826,640 | 790,206 | 800,073 | 790,505 | 800,877 | 782,868 | 869,132 | 1,053,220 | 1,109,860 | 1,223,970 | 1,226,490 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 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
The debt-to-assets ratio for RPC, Inc. has shown a consistent decrease from Q2 2022 to Q1 2023, indicating that the company has steadily reduced its level of debt relative to its total assets. The ratio was at 0.00 in Q4 2022 and has remained at this level for the first four quarters of 2023, suggesting that the company has either paid off its debt or increased its assets without taking on additional debt during this period.
The notable decrease in the debt-to-assets ratio between Q2 2022 (0.02) and Q1 2023 (0.00) indicates an improvement in the company's financial stability and ability to cover its liabilities using its existing assets. A lower debt-to-assets ratio signifies lower financial risk and greater financial health, as it indicates a smaller proportion of the company's assets are financed through debt.
Overall, the consistent decline in the debt-to-assets ratio for RPC, Inc. suggests prudent financial management and a strengthened balance sheet position. However, it is important to monitor future changes in the ratio to ensure the company maintains a healthy balance between debt and assets.
Peer comparison
Dec 31, 2023