Snap-On Inc (SNA)
Debt-to-assets ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,185,500 | 1,184,600 | 1,183,800 | 1,182,900 | 1,182,100 |
| Total assets | US$ in thousands | 7,896,800 | 7,544,900 | 6,972,800 | 6,759,700 | 6,557,300 |
| Debt-to-assets ratio | 0.15 | 0.16 | 0.17 | 0.17 | 0.18 |
December 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,185,500K ÷ $7,896,800K
= 0.15
The debt-to-assets ratio of Snap-On Inc has been steadily decreasing over the past five years, indicating improved financial strength and risk management. The ratio has declined from 0.18 in 2020 to 0.15 in 2024. This suggests that Snap-On Inc has been reducing its reliance on debt to finance its operations and investments, which can enhance its overall financial stability and ability to weather economic downturns. Overall, the decreasing trend in the debt-to-assets ratio reflects positively on the company's financial health and prudent management of its capital structure.
Peer comparison
Dec 31, 2024