Standard Motor Products Inc (SMP)
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 | 151,182 | 184,589 | 21 | 97 | 129 |
| Total assets | US$ in thousands | 1,293,050 | 1,254,930 | 1,197,960 | 956,540 | 903,854 |
| Debt-to-assets ratio | 0.12 | 0.15 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $151,182K ÷ $1,293,050K
= 0.12
Standard Motor Products, Inc.'s debt-to-assets ratio has fluctuated over the past five years. In 2023, the ratio stands at 0.12, indicating that the company has $0.12 in debt for every $1 of assets. This represents a decrease from 2022 when the ratio was 0.19, suggesting that the company has reduced its reliance on debt to finance its assets.
The ratio was significantly higher in 2022 compared to the previous years, which could have been a result of increased borrowing or a decrease in asset value. On the other hand, in 2021 and 2019, the ratios were relatively lower at 0.11 and 0.06, respectively, indicating a more conservative debt financing approach.
The 2020 ratio of 0.01 is notably lower than the other years, suggesting either a minimal amount of debt relative to assets or significant asset growth without corresponding debt increase during that period.
Overall, the trend in Standard Motor Products, Inc.'s debt-to-assets ratio shows variability, with the company experiencing fluctuations in its debt levels relative to its asset base over the past five years.
Peer comparison
Dec 31, 2023