SPS Commerce Inc (SPSC)
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 | — | — | — | — | — |
| Total assets | US$ in thousands | 823,844 | 672,914 | 615,846 | 526,458 | 447,440 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $823,844K
= 0.00
The debt-to-assets ratio of SPS Commerce Inc. has consistently been 0.00 for the past five years, indicating that the company has not utilized any debt to finance its operations relative to its total assets. This suggests that SPS Commerce Inc. relies primarily on equity financing to support its business activities, leading to a low level of financial risk associated with debt obligations. The consistent trend of a zero debt-to-assets ratio reflects the company's conservative financial strategy and strong financial position, as there are no significant financial obligations from debt that may impact the company's operations or profitability.
Peer comparison
Dec 31, 2023