Repligen Corporation (RGEN)

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	510,143	0	—	243,737	232,767
Total assets	US$ in thousands	2,824,410	2,524,660	2,358,350	1,902,890	1,400,110
Debt-to-assets ratio		0.18	0.00	0.00	0.13	0.17

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $510,143K ÷ $2,824,410K
= 0.18

The debt-to-assets ratio of Repligen Corp. has fluctuated over the past five years, ranging from 0.11 to 0.21. A lower debt-to-assets ratio indicates that the company relies less on debt financing to fund its operations and growth, which can be perceived positively by investors and creditors as it signifies lower financial risk.

In 2023, the debt-to-assets ratio increased to 0.21 from 0.11 in 2022, which suggests that a higher proportion of the company's assets are funded by debt in the most recent year. This increase may raise concerns about the company's increasing leverage and financial risk compared to the preceding year.

However, when considering the historical trend, the current ratio of 0.21 is still lower than the 0.17 recorded in 2019, which could indicate that the company's debt management strategy has been relatively stable over the past five years. It is important for stakeholders to monitor the debt-to-assets ratio over time to assess the company's ability to manage its debt levels effectively and maintain financial stability.