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.