Snap-On Inc (SNA)
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 | 1,184,600 | 1,183,800 | 1,182,900 | 1,182,100 | 946,900 |
| Total assets | US$ in thousands | 7,544,900 | 6,972,800 | 6,759,700 | 6,557,300 | 5,693,500 |
| Debt-to-assets ratio | 0.16 | 0.17 | 0.17 | 0.18 | 0.17 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,184,600K ÷ $7,544,900K
= 0.16
The debt-to-assets ratio of Snap-On Inc has shown a decreasing trend over the five-year period from 2019 to 2023. The ratio decreased from 0.17 in 2019 to 0.16 in 2023. This indicates that the company's reliance on debt to finance its assets has decreased over time, which may suggest a strengthening financial position and reduced financial risk. A lower debt-to-assets ratio generally indicates that the company has a lower level of debt relative to its total assets, implying a healthier balance sheet. This trend could be viewed positively by investors and creditors as it signifies improved financial stability and lower leverage for the company.
Peer comparison
Dec 31, 2023