Thermo Fisher Scientific Inc (TMO)

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	—	—	—	19,107,000	17,076,000
Total assets	US$ in thousands	98,726,000	97,154,000	95,123,000	69,052,000	58,381,000
Debt-to-assets ratio		0.00	0.00	0.00	0.28	0.29

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $98,726,000K
= 0.00

The debt-to-assets ratio of Thermo Fisher Scientific Inc. has been relatively stable over the past five years, hovering around the range of 0.30 to 0.37. This ratio indicates the proportion of the company's assets that are financed through debt.

In 2023 and 2022, the debt-to-assets ratio remained constant at 0.35, suggesting that the company continues to maintain a moderate level of debt relative to its total assets. This indicates a consistent balance between debt and assets in the company's capital structure.

In 2021, the ratio increased slightly to 0.37, which may indicate a slight increase in the company's reliance on debt financing compared to the previous years. However, the ratio remained within a reasonable range, indicating that the company has been managing its debt levels prudently.

In 2020 and 2019, the debt-to-assets ratio decreased to 0.31 and 0.30, respectively. This decrease suggests that the company may have reduced its debt levels or increased its asset base during these years, leading to a lower ratio of debt to assets.

Overall, the trend in Thermo Fisher Scientific Inc.'s debt-to-assets ratio shows a consistent and balanced approach to debt management, with the company maintaining a reasonable level of debt relative to its asset base over the past five years.