Tegna Inc (TGNA)
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 | 3,072,800 | 3,069,320 | 3,231,970 | 3,553,220 | 4,179,240 |
| Total assets | US$ in thousands | 7,000,060 | 7,328,900 | 6,917,650 | 6,848,700 | 6,953,980 |
| Debt-to-assets ratio | 0.44 | 0.42 | 0.47 | 0.52 | 0.60 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $3,072,800K ÷ $7,000,060K
= 0.44
The debt-to-assets ratio of TEGNA Inc has shown a decreasing trend from 0.60 in 2019 to 0.44 in 2023. This indicates that the company's level of debt in relation to its total assets has been decreasing over the years. A lower debt-to-assets ratio suggests that the company has a lower proportion of debt compared to its total assets, which may be seen as a positive sign of financial health and lower risk for creditors.
The improvement in the debt-to-assets ratio over the years may signal that TEGNA Inc has been effectively managing its debt levels or increasing its asset base. A decreasing trend in this ratio could mean that the company is becoming less reliant on debt financing to support its operations and investments.
However, it's important to note that while a lower debt-to-assets ratio is generally favorable, a very low ratio could also indicate underutilization of debt for potential growth opportunities. Overall, the improving trend in TEGNA Inc's debt-to-assets ratio suggests a more conservative approach to debt management and potential financial strength.
Peer comparison
Dec 31, 2023