Seagate Technology PLC (STX)
Debt-to-assets ratio
| Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 5,195,000 | 5,388,000 | 5,062,000 | 4,894,000 | 4,156,000 |
| Total assets | US$ in thousands | 7,739,000 | 7,556,000 | 8,944,000 | 8,675,000 | 8,930,000 |
| Debt-to-assets ratio | 0.67 | 0.71 | 0.57 | 0.56 | 0.47 |
June 30, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $5,195,000K ÷ $7,739,000K
= 0.67
The debt-to-assets ratio of Seagate Technology PLC has exhibited some fluctuations over the past five years. In Jun 30, 2024, the ratio stood at 0.67, showing a slight decrease from the previous year's ratio of 0.71. This suggests that the company relied less on debt relative to its total assets compared to the prior year.
Looking further back, in Jun 30, 2022, the ratio was 0.57, showing an increase from the previous year but a decrease from the current year's ratio. This indicates that the company's reliance on debt in relation to its assets was higher in Jun 30, 2022, than in the most recent year.
Seagate's debt-to-assets ratio in Jun 30, 2021, and Jun 30, 2020, were 0.56 and 0.47, respectively. The trend in these years shows a gradual increase in the ratio, suggesting a growing dependence on debt to finance its operations or investments during that period.
In general, the fluctuating trend in Seagate Technology's debt-to-assets ratio indicates varying levels of leverage used by the company to support its operations and growth initiatives over the past five years. The downward trend from 2023 to 2024 might signal a strategic shift towards less reliance on debt for financing, but further analysis of the company's financial position and strategies would be necessary to fully assess the implications of these changes.
Peer comparison
Jun 30, 2024