Teledyne Technologies Incorporated (TDY)

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	2,644,800	3,620,500	4,099,400	680,900	750,000
Total assets	US$ in thousands	14,527,900	14,354,000	14,430,300	5,084,800	4,579,800
Debt-to-assets ratio		0.18	0.25	0.28	0.13	0.16

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,644,800K ÷ $14,527,900K
= 0.18

The debt-to-assets ratio of Teledyne Technologies Inc has shown fluctuations over the past five years. As of Dec 31, 2023, the ratio is 0.22, indicating that 22% of the company's assets are financed by debt. This represents an improvement from the previous year when the ratio was 0.27.

Comparing the current ratio to the ratios in the prior years, it is lower than both 2022 and 2021 but higher than 2019. The declining trend from 2022 to 2023 is favorable as it suggests that the company is becoming less reliant on debt financing to support its operations.

Overall, a debt-to-assets ratio of 0.22 indicates that Teledyne Technologies Inc has a relatively conservative capital structure with a lower proportion of debt compared to its assets, which may reduce financial risk and enhance stability.