SPS Commerce Inc (SPSC)

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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	US$ in thousands	823,844	787,408	735,538	696,927	672,914	637,090	622,776	613,308	615,846	591,283	572,278	549,837	526,458	487,686	461,663	439,819	447,440	426,597	418,607	407,197
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	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

Based on the data provided for SPS Commerce Inc.'s debt-to-assets ratio across multiple quarters, the consistent ratio of 0.00 indicates that the company has not utilized debt to finance its assets during the periods specified. A debt-to-assets ratio of 0.00 signifies that the company's total debt is non-existent or negligible in relation to its total assets. This suggests that SPS Commerce Inc. relies predominantly on equity or other sources of financing to fund its operations and investments, minimizing its financial risk associated with debt. Overall, the company's ability to operate without significant debt indicates a strong financial position and potentially lower financial leverage, which may be favorable for stakeholders and investors.