Thermo Fisher Scientific Inc (TMO)

Debt-to-assets ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	18,773,000	18,641,000	19,107,000	21,091,000	20,638,000	19,231,000	17,076,000	16,392,000	—	—
Total assets	US$ in thousands	98,726,000	97,057,000	94,105,000	94,658,000	97,154,000	90,536,000	90,579,000	92,747,000	95,123,000	73,600,000	67,698,000	65,931,000	69,052,000	64,061,000	61,593,000	58,688,000	58,381,000	56,729,000	57,970,000	55,596,000
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.28	0.28	0.28	0.33	0.34	0.33	0.29	0.29	0.00	0.00

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 shown some variation over the past eight quarters, ranging from 0.32 to 0.37. The ratio measures the proportion of the company's total debt in relation to its total assets. A lower ratio indicates that the company has less debt relative to its assets, which may suggest a stronger financial position and lower risk. Thermo Fisher's ratios generally fall within a relatively stable range around 0.35, indicating a moderate level of debt compared to assets. While there was a slight increase in the ratio in Q1 2023 compared to previous quarters, the company's overall debt level remains manageable. It is important to consider other financial metrics and external factors when assessing the company's overall financial health and ability to meet its obligations.