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.