Snap-On Inc (SNA)
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 | 1,184,600 | 1,184,400 | 1,184,200 | 1,184,000 | 1,183,800 | 1,183,600 | 1,183,400 | 1,183,200 | 1,182,900 | 1,182,700 | 1,182,500 | 1,182,300 | 1,182,100 | 1,181,800 | 1,436,700 | 948,200 | 946,900 | 947,500 | 947,900 | 946,700 |
| Total assets | US$ in thousands | 7,544,900 | 7,304,300 | 7,230,400 | 7,125,600 | 6,972,800 | 6,835,500 | 6,864,300 | 6,895,200 | 6,759,700 | 6,580,900 | 6,791,600 | 6,673,500 | 6,557,300 | 6,267,600 | 6,113,500 | 5,564,300 | 5,693,500 | 5,596,400 | 5,545,400 | 5,490,900 |
| Debt-to-assets ratio | 0.16 | 0.16 | 0.16 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | 0.18 | 0.17 | 0.18 | 0.18 | 0.19 | 0.24 | 0.17 | 0.17 | 0.17 | 0.17 | 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 been relatively stable over the past few quarters, ranging from 0.16 to 0.19. This indicates that the company has been able to maintain a conservative level of debt in relation to its total assets. A lower debt-to-assets ratio suggests lower financial risk and a stronger financial position for the company. The slight increase in the ratio from 0.16 to 0.19 over the period could be a potential concern, as it indicates a slight increase in the company's reliance on debt to finance its operations. However, the ratio is still within reasonable limits and does not raise significant alarms at this point. Monitoring future trends in the debt-to-assets ratio will be important to assess Snap-On Inc's financial health and risk profile.
Peer comparison
Dec 31, 2023